IMV Inc IMVIF

March 16th

[Breakthorough1]

 That was on March 16th., just six weeks before they went into CCAA proceedings. Stonegate is advising them in the restructuring process and the SISP will be built on the "informal" one already done before the CCAA and with the help of Stonegate:

  "The drug works. A lot of companies fail clinical programs and are forced into strategic options. That’s not where we’re at. We’re in a situation where the drug is actually working, and we want to make sure it gets to market, not just for patients and not just for the better therapies for cancer, but for IMV shareholders. There has been an amount of time and money invested in, I believe, what is going to be a platform that is really foundationally important to this whole therapeutic field. We’ve got to give it the best chance possible and that is very likely in a formalized collaboration. Now the exact mechanics and details of what that collaboration is going to be, Joe, I can’t talk to, but these aren’t conversations that we started yesterday. This is an evolution of that. And the reason we elected to work with Stonegate is we have been working with these guys for now over a year in conversations as they related to sort of platform-based strategic business development, other business development, we are just formalizing that we are very much in the market for that and looking to accelerate that as we wade through this challenging market."