Threshold completes $18.3 million private financing
This article was originally published in Scrip
Threshold Pharmaceuticals has completed an $18.3 million private placement of its common stock and warrants after receiving shareholder approval. Threshold has sold nearly nine million shares of its common stock at $2.04 per share, and warrants to purchase up to about 3.6 million shares of its common stock. Net offering proceeds of the placement were around $17 million. The funds will help Threshold to study the activity of its hypoxia-activated prodrug TH-302 for the treatment of solid tumours in at least four different combination clinical trials against multiple tumour types, the company said. Investors in Threshold included Sutter Hill Ventures, HealthCare Ventures, LLC, Alta Partners and Three Arch Partners.
You may also be interested in...
Myotec Therapeutics and Hybrid Biosystems are to merge to form PsiOxus Therapeutics with £3.6 million in funding from a syndicate led by the former's previous backer Imperial Innovations.
A Phase II efficacy and safety study of Trophos' cholesterol-oxime compound TRO40303 to treat cardiac ischaemia-reperfusion injury in acute myocardial infarction patients will be substantially underwritten by funds from the European Union, the Marseilles-based company says. Trophos is to head a new 16-partner consortium called MitoCare, a 2.5 year international translational medicine project that has received a €6 million award under the European Union Seventh Framework Programme for research. The project will begin in January 2011.
Alcon's board of directors has finally approved a merger agreement with Novartis for the Alcon shares the latter does not already own, drawing a close to protracted negotiations that first began nearly a year ago.