Kinetana International Completes IPO in Hong Kong

On June 3, 2002, Kinetana International Biotech Pharma Limited completed an initial public offering of its common shares for approximately $15.6 million, on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited. The offering was underwritten by a syndicate in Hong Kong, along with Hong Kong-based sponsors. The proceeds from the listing will be used to further develop the technology, acquire machines and equipment, enhance the manpower for research and development and sales and marketing and as general working capital.

Kinetana Group, was founded in 1987 in Alberta with the incorporation of Kinetana Inc. to provide, through Dr. Y.K. Tam, an adjunct professor of the Faculty of Pharmacy and Pharmaceutical Sciences at the University of Alberta, consulting sevices and conduct pre-clinical studies in pharmacokinetics and pharmacodynamics for pharmaceutical and biotechnological companies. In March 1988, Kinetana Group Inc. was founded to engage in biopharmaceutical technology development.

Parlee McLaws LLP represented Kinetana, with a team led by David Tam (securities and corporate), and assisted by Leanne Krawchuk and Kevin Lynch (securities and corporate), Bruce Hirsche, Q.C., and Jay Haugen (intellectual property) and John McClure (tax). Navin Aggarwal, Eric Fung and Steven Man of Preston Gates Ellis in Hong Kong represented Kinetana as its filing solicitor in Hong Kong, and Firmus Fung, Kenneth Keung and Ella Ma of So Keung Yip & Sin in Hong Kong in association with Perkins Cole LLP represented the Hong Kong sponsors and underwriters.