Liminal BioSciences
| Nasdaq: LMNL | |
| Industry | Biopharmaceutical Pharmaceutical |
| Founded | October 14, 1994 |
| Headquarters | 440 Boul. Armand-Frappier Suite 300, , |
| Website | liminalbiosciences |
Liminal BioSciences Inc.[1], formerly known as Prometic Life Sciences Inc.,[2] is a Canadian biopharmaceutical company. The company is publicly traded on the Nasdaq Global Market.
History[edit]
Liminal[3] was founded in 1988, as a commercial spinoff of research at the University of Cambridge on affinity chromatography.[4] Its founder was the current President and CEO, Pierre Laurin, whose research formed the basis for the company's products.[4] On May 19, 1998, the Corporation went public through a listing on the Toronto Stock Exchange.
In August 2016, the company announced the acquisition of Telesta Therapeutics.[5]
Business[edit]
Most of the company's products are based on its affinity chromatography process. One use of this process is the purification of drugs, reducing impurities and thus side effects.[4] A second use is removing pathogens from human blood; in 2002, Liminal[6] formed a joint venture with the American Red Cross to remove pathogens and viruses from collected blood.[7] A third application is to extract and purify therapeutic proteins from human plasma, which are then used in the creation of therapeutics and orphan drugs.
Liminal[8] has two business segments: the protein technologies segment and the small-molecule therapeutics segment.
The small-molecule therapeutics segment produces products for sufferers of fibrosis, cancer and autoimmune diseases. The company's most prominent product is PBI-4050, an anti-fibrosis product.[9]
Headquartered in Laval, Quebec, Liminal[10] has:
- Research and development facilities in the UK, the US and Canada
- Manufacturing facilities in the UK and Canada[11]
It also conducts business development activities in the US, Europe and Asia. As of 2015, it has approximately 250 employees.
Controversies[edit]
From early 2018 to early 2019, Prometic Life Sciences' Share price dropped 79%.[12] Prometic responded with a dilutitive restructuring of the company, a move which wiped out most of their shareholder's equity. The company's shareholders were denied a say in the matter after Prometic sought permission from the Toronto Stock Exchange to proceed without a shareholder vote for reasons of "financial hardship".[13] In October 2019, the company allowed its shareholders to vote on a name change.[14]
References[edit]
- ^ Inc, ProMetic Life Sciences. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". www.newswire.ca. Retrieved 2020-01-24.
- ^ GmbH, finanzen net. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". markets.businessinsider.com. Retrieved 2021-08-27.
- ^ Inc, ProMetic Life Sciences. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". www.newswire.ca. Retrieved 2020-01-24.
- ^ a b c "Most Innovative CEO of the Year: Pierre Laurin, Prometic". Canadian Business - Your Source For Business News. 2015-10-19. Retrieved 2018-04-20.
- ^ "ProMetic to Acquire Telesta Therapeutics - GEN". GEN. 2016-08-24.
- ^ Inc, ProMetic Life Sciences. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". www.newswire.ca. Retrieved 2020-01-24.
- ^ "ProMetic to team with Red Cross". The Globe and Mail. 2002-04-22. Retrieved 2018-04-20.
- ^ Inc, ProMetic Life Sciences. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". www.newswire.ca. Retrieved 2020-01-24.
- ^ "Three top stock picks from Selective Asset's Robert McWhirter". The Globe and Mail. 2014-08-29. Retrieved 2018-04-20.
- ^ Inc, ProMetic Life Sciences. "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc". www.newswire.ca. Retrieved 2020-01-24.
- ^ "Today's Stock Market News and Analysis from Nasdaq.com". NASDAQ.com.
- ^ "Introducing Prometic Life Sciences, the Stock That Tanked 89%".
- ^ "Dramatic dilution at Prometic Life Sciences draws ire of shareholders | Financial Post". 2019-04-24.
- ^ "Prometic Shareholders Approve Name Change to Liminal BioSciences Inc".
