Velan Inc. has agreed to sell its controlling shareholder’s shares to Birch Hill Equity Partners Management Inc. for approximately C$203.9 million. This transaction represents 72.1% of the company’s outstanding shares and 92.8% of its aggregate voting rights. Birch Hill plans to maintain Velan’s presence in Quebec and support its growth globally. The deal is expected to close in the first half of 2026, subject to regulatory approvals. Velan’s CEO is optimistic about the partnership with Birch Hill, emphasizing their shared values and strategic alignment. The transaction will also involve change of control costs and the appointment of new board members.

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