Tribe Technologies
Trending >

Opsens gains a valuable shareholder in Lumira, says Paradigm


OpsensOpsens (Opsens Stock Quote, Chart, News: TSXV:OPS) newest shareholder brings with it more than just cash, says Paradigm Capital Christopher Lam.

Yesterday, Opsens announced it had completed a non-brokered private placement led by Lumira Capital LP, which pocketed the company approximately $5-million. Lumira is a fund that specializes in healthcare and life sciences and has offices in the U.S. and Canada. The firms exits include Pharmasset, which was acquired by Giliad in 2011 for $11-billion and Ception Therapeutics, which in 2010 was acquired by Cephalon for more than $350-million.

Lam says it is a pleasant surprise that Opsens was able to secure an investor with Lumira’s pedigree, noting that the firm has a quarter-century’s worth of experience and is regarded as one of North America’s leading healthcare and life sciences VCs.

“The addition of Lumira Capital as a significant shareholder is a welcome surprise and positive development for Opsens,” says Lam. “Lumira brings an experienced team with both depth and breadth of knowledge within the cardiovascular medical device market. In our view, Lumira should be a valuable resource to Opsens that may further extend the company’s reach within North America. FFR sales since launch have demonstrated market demand and we continue to view OPS as an attractive risk/return opportunity with an expansive near-term growth profile.”

In a research update to clients today, Lam maintained his “Buy” rating and one year target price of $2.15 on Opsens, implying a return of 62 per cent, including dividend, at the time of publication.

We Hate Paywalls Too!

At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.

Make a one-time or recurring donation

About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
insta twitter facebook


Leave a Reply