Inflazyme Pharmaceuticals Acquires GlycoDesign

Vancouver-based Inflazyme Pharmaceuticals Ltd. acquired Toronto-based GlycoDesign Inc. on June 5, 2003. The merger was accomplished through an amalgamation of GlycoDesign with a wholly owned subsidiary of Inflazyme. GlycoDesign shareholders received common shares of Inflazyme on the merger representing approximately 1/3 of the outstanding common shares post merger. The value of the transaction was approximately $12 million.

In Canada, Inflazyme was represented by Ogilvy Renault with a team that included Catherine Wade and Troy Ungerman; and in the U.S., by Steve Parker and David Dargatis of Arnold & Porter in McLean, Virginia.

GlycoDesign was represented in Canada, by McCarthy T├ętrault LLP with a team led by Graham Gow, and assisted by Ian Michael and William Ford; and in the U.S., by Michael Smith of McCarthy T├ętrault, and Kenneth Blackman and Edward Alterman of Fried, Frank, Harris, Shriver & Jacobson in New York.