Primaxis Welcomes New Investors in Second Round Financing

On November 30, 2000, Primaxis Technology Ventures Inc. closed its second round of financing which brought in four new investors: DuPont Canada Inc. (DuPont), MDC Corporation Inc. (MDC), Crown Investments Corporation of Saskatchewan (CIC) and Battelle Memorial Institute (Battelle). Founding investors Royal Bank Ventures Inc. and BTG International Inc. created Primaxis in 1998, which has grown—as a result of the second round financing—to a C$55 million seed capital fund that commercializes early-stage commercially significant advanced technologies. Primaxis currently has investments in six early stage companies, and has made three additional investments in University research projects.

A team from Torys acted for Primaxis, which included Patrice Walch-Watson and David Nowak with assistance from John Unger (tax) and Blair Keefe (regulatory). BTG was represented in-house by Madhuri Malkani, Senior Vice-President and General Counsel, and by Bill Mugford from Blake, Cassels & Graydon LLP. DuPont was advised by in-house counsel Linda Beairsto and David Salomon from Fasken Martineau DuMoulin LLP. CIC relied on Stuart Wicijowski of McDougall Gauley and Assistant General Counsel Dan O’Bryan advised Battelle.