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Article: ISTA Raising $36.75M Privately For Ophthalmology Programs.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. 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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Staff Writer
ISTA Pharmaceuticals Inc. is raising $36.75 million in private placement of stock, funds that will be used to support development and marketing of its products for treating eye diseases.
The Irvine, Calif., company entered definitive agreements with institutional investors for the sale of 5.25 million common shares at $7 per share. The deal is expected to close Friday. Lehman Brothers is lead placement agent. Other agents are Lazard Freres & Co. LLC, Susquehanna Financial Group LLLP and Thomas Weisel Partners LLC.
ISTA last month reported positive data from a Phase II/III trial of bepotastine for the treatment of allergic ...