Catalyst Said to Take Therapure Public, Weighs Casino IPO

  • Private equity firm to raise more than $75 million in IPO
  • Mississauga-based Therapure focuses on biopharmaceuticals

Catalyst Capital Group Inc., a Canadian private equity firm, is seeking to raise at least C$100 million ($75 million) in an initial public offering of Therapure Biopharma Inc., according to people familiar with the sale.

Catalyst, a Toronto-based firm founded by Newton Glassman, is also weighing an IPO of Gateway Casinos & Entertainment Ltd. in the next four to six weeks, said one of the people, who asked not to be identified because the information is private. Gateway, which operates in Western Canada, tried to do an IPO in 2012 but it was withdrawn.

Therapure is focused on making biopharmaceuticals for customers and on developing, manufacturing and selling its own blood and plasma-related products, the Mississauga, Ontario-based company said in a Thursday filing with regulators. Therapure’s development has primarily been supported by funds managed by Catalyst, according to the filing, which didn’t say how much the IPO would raise.

A telephone message left with Therapure Chief Financial Officer David Long wasn’t immediately returned.

GMP Capital Inc., Canadian Imperial Bank of Commerce and National Bank of Canada are arranging the Therapure sale.

A telephone and e-mail message left with Gateway Casinos spokeswoman Tanya Gabara in Burnaby, British Columbia wasn’t immediately returned.

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