Scrip is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Threshold raises $18 million

This article was originally published in Scrip

Executive Summary

Threshold Pharmaceuticals has entered a purchase agreement with investors to raise $18.3 million in a private equity financing round. Around 54 million shares of the company's common stock will be issued at a purchase price of $0.34 per share, representing more than 20% of the company's common stock, to four of Threshold's management team, as well as to a number of venture capital firms. The funds will be used to evaluate the activity of Threshold's hypoxia-activated prodrug (HAP), TH-302, which targets solid tumours, as well as to support preclinical studies with another HAP candidate and for general corporate purposes, including working capital, the company said. TH-302 is in a Phase I clinical trial to assess safety and establish a maximum tolerated dose. Threshold plans to begin a Phase I/II trial with the product in combination with additional chemotherapeutic regimens this year.

You may also be interested in...



Myotec and Hybrid merge to form PsiOxus

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.

Trophos's MitoCare programme receives €6 million EU funding

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.

Novartis and Alcon reach compromise to settle merger saga

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.

Topics

UsernamePublicRestriction

Register

OM011382

Ask The Analyst

Ask the Analyst is free for subscribers.  Submit your question and one of our analysts will be in touch.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel