A co-founder of B.C. biotech sector success story ID Biomedical Corp. (IDB) is suing another biotech firm for the return of a US$250,000 loan he provided to it as its CEO.
Former Vancouver Canucks teammates Trevor Linden and Kirk McLean are not named as plaintiffs in Anthony Holler’s suit against Georgia’s Inviro Medical Inc, but they are named as debt-holders along with Holler.
In a notice of civil claim filed in BC Supreme Court on February 7, Holler says he is owed US$250,000 plus US$56,000 interest for an October 2008 loan he provided to Inviro.
Holler was appointed the company’s CEO in July of that year, after its former CEO retired.
Holler is well known for co-founding and leading ID Biomedical Corp., which was acquired by United Kingdom’s GlaxoSmithKline PLC for $1.7 billion in 2005.
Holler chairs Vancouver-based copper and gold exploration firm Corriente Resources Inc. (TSX:CTQ, NYSE-A:ETQ) and CRH Medical Corp. (TSX-V:CRM), which operates a network of colorectal health clinics across the United States.
Holler is also a director of Vancouver’s Response Biomedical Corp. (TSX:RBM, OTCBB:RPBIF).
He has at one time been a major shareholder in most, if not all of the companies he’s currently involved with.
In addition to the US$316,150 loan payment, Holler is seeking an order from the court appointing a receiver to sell Inviro in an already-arranged deal.
Inviro ceased to be “a going concern” last October, having failed to commercialize its catalogue of safer syringes.
Holler and former NHLers Linden and McLean are among 22 debenture holders named in an affidavit filed by Holler.
Holler, Linden and one other debenture holder are council for debenture holders in an attempt to recover the funds they advanced to Inviro.