Broker drops biotech firm after firebombing

[Animal 0]

Broker drops biotech firm after firebombing


Last updated Jun 23 2005 10:11 AM PDT

Vancouver-based Canaccord Capital has resigned as the broker for British
biotech firm Phytopharm after the car of a Canaccord exec was firebombed,
apparently by animal rights activists.

A communique said to come from the Animal Liberation Front (ALF) claimed
responsibility for a May bombing of Canaccord director Michael Kendall's car
in a London suburb. He was not injured.

The communique said Phytopharm is known for its links with Huntingdon Life
Sciences (HLS), which tests products on animals.

"If you support or raise funds for any company associated with HLS we will
track you down, come for you and destroy your property by fire," said a
communique signed by the ALF that appeared on the web site of another animal
rights organization, Direct Action.

The communique was not on the ALF site on Thursday.

Vancouver-based Canaccord raised 10.1 million pounds for Phytopharm earlier
this year.

Phytopharm, which makes drugs derived from plants, denied it has current
links to Huntingdon, but its former partner - a Japanese company - is a
Huntingdon client.

Speaking with Bloomberg about the firm's resigning as broker, a spokesperson
for Canaccord said, "Canaccord regrets having to do this, but the priority
is the safety of their staff. Life's too short.''

Phytopharm shares fell 18 per cent on the London Stock Exchange. The company
has not found a new broker.

http://vancouver.cbc.ca/regional/servlet/View?filename=bc_canaccord20050623