BioSante secures $25 million
This article was originally published in Scrip
BioSante Pharmaceuticals has secured a $25 million credit facility for the next two years. The US specialty pharmaceutical company focused on female sexual health has received a committed equity financing facility from Kingsbridge Capital, which will buy newly issued shares of BioSante's stock. BioSante president and CEO Stephen Simes says that the funding will give BioSante more financial flexibility and enable it to progress LibiGel. This gel formulation of testosterone is in Phase III development under an SPA for female sexual dysfunction. BioSante has also signed an exclusive agreement with PharmaSwiss to market Elestrin (estradiol gel), for hot flushes associated with the menopause.
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