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Article: MannKind makes $175M placing.(Technosphere Insulin System development)(Brief Article)
- Article from:
- Pharma Marketletter
- Article date:
- August 8, 2005
CopyrightCOPYRIGHT 2005 Marketletter Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The USA's MannKind Corp, which focuses on the discovery, development and commercialization of therapeutic products for diseases such as diabetes and cancer, has entered into a definitive purchase agreement for a $175.0 million private placement of newly-issued shares of common stock and the concurrent issue of warrants for the purchase of additional shares. Leading institutional investors will invest $87.5 million in the private placement while Alfred Mann, chief executive and principal stockholder of MannKind, will also invest $87.5 million. The financing is scheduled to close on August 5, 2005. Wachovia Securities and Leerink Swann & Co acted as ...