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Plethora Solutions gets £4mm through debt placement

Executive Summary

Plethora Solutions (urological disorders) has raised £4mm ($8.1mm) through the placement of debt to ETV Capital. The 39-month notes will begin to be repaid early next year; they convert into shares, with the market price capped at £1.88. (The stock is currently averaging £1.48.) Plethora will use the proceeds to finish clinical trials and file for US approval of Invicorp, an erectile dysfunction therapeutic in-licensed from Senetek in early 2006.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
  • Medical Devices
    • Diagnostic Equipment & Supplies
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement

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