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Threshold completes $18.3 million private financing

This article was originally published in Scrip

Executive Summary

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.

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