January 01, 2016 00:00 ET
Biotech Innovator in U.S. and Canada Emerges From Transaction as Lattice Biologics Ltd.
SCOTTSDALE, AZ–(Marketwired – January 01, 2016) – Lattice Biologics Inc. (“Lattice”) is pleased to announce that it has completed its merger with Blackstone Ventures Inc. (“Blackstone”), previously announced in Lattice’s news releases dated August 13, September 25, October 8, October 16, and December 5, 2015. Pursuant to the transaction, stockholders of Lattice (in exchange for all of the issued common stock of Lattice) received 7,529,705 post-consolidated common shares and 31,375,648 unlisted non-voting restricted shares of Blackstone. Blackstone was renamed to “Lattice Biologics Ltd.” (LBL) on closing of the merger.
In connection with the transaction, Blackstone raised aggregate gross proceeds of CDN$1.57 million, of which CDN$550,000 was previously advanced to Lattice as a working capital loan on October 6, 2015.
The directors of Lattice Biologics Ltd. (formerly Blackstone) are Guy Cook, Cheryl Farmer, Mario Stifano, Cathy Thomas, and Donald McInnes. Mr. Cook will serve as Chief Executive Officer, Ms. Farmer will serve as Chief Financial Officer and Corporate Secretary, and Gregory Davis will serve as Chief Operating Officer of Lattice Biologics Ltd.
Final TSX Venture Exchange approval for the acquisition and related transactions and re- commencement of trading on the exchange remains subject to the resulting company completing all applicable filing requirements under exchange policies.
“We are pleased to finalize the acquisition transaction with Blackstone and Donald McInnes. We are excited about the future prospect of building LBL into an industry leader in regenerative medicine,” said Guy Cook, President of Lattice.
Lattice Biologics Inc.
About Lattice Biologics Ltd.
Lattice is an emerging personalized/precision medicine leader in the field of cellular therapies and tissue engineering, with a focus on bone, skin, and cartilage regeneration. Lattice develops and manufactures biologic products to domestic and international markets. Lattice’s products are used in a variety of applications, including:
- Enhancing fusion in spine surgery
- Enhancing breast reconstruction post mastectomy for breast cancer patients
- Sports medicine indications, including ACL repair
- Promotion of bone regeneration in foot and ankle surgery
- Promotion of skull healing following neurosurgery
- Enhancing wound repair in burn victims
- Subchondral bone defect repair in knee and other joint surgeries
Lattice is partnered in developing new precision medicine technologies to address widespread unmet clinical needs in cancer treatment. These technologies will provide an invaluable diagnostic service by utilizing patients’ own breast cancer or solid tumor cells, amplifying them within a human Extracellular Cellular Matrix (ECM) and utilizing proprietary viability markers to test the efficacy of anti-cancer agents. Lattice’s principal goal is to develop diagnostic treatments capable of assisting physicians in identifying the most effective treatment plans for individuals on a completely personalized basis.
Lattice maintains headquarters, laboratory and manufacturing facilities in Scottsdale, Arizona as well as offices in Toronto Ontario. The facility includes ISO Class 1000 and ISO Class 100 clean rooms, and specialized equipment capable of crafting traditional allografts and precision specialty allografts for various clinical applications.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements herein, other than statements of historical fact, are to be considered forward looking. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “continuing”, “intends” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the company to be materially different from those expressed by such forward-looking statements or forward-looking information including the future prospects of building LBL into an industry leader in regenerative medicine. Although Lattice believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Media Contact: Melanie Battista, Public Relations, Lattice Biologics Ltd., 16701 N 90th Street, Suite #101, Scottsdale, AZ 85260, 480-563-0800 Office, News@LatticeBiologics.com | www.LatticeBiologics.com
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