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Vical raises $20 million to develop swine flu vaccine

This article was originally published in Scrip

Executive Summary

Vical has secured a further $4.6 million from institutional investors to develop a swine flu vaccine against H1N1 influenza after raising $15.4 million of securities in a registered direct offering from two investors, including Federated Kaufmann Fund, last week. Vical planned to sell around 6.7 million shares of its common stock and options to buy up to 3.3 million additional shares.



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