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Article: Cyclacel Boosts Clinical Work With $45M Private Placement.
- 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
A month after gaining access to public markets through a merger with Xcyte Therapeutics Inc., Cyclacel Pharmaceuticals Inc. is adding $45.3 million through a private placement involving stock and warrants.
The company agreed to sell about 6.4 units, each consisting of one share of common stock plus a warrant to purchase 0.4 shares, priced at $7.05 per unit to institutional investors, including San Francisco-based Deerfield Management, Baltimore-based Red Abbey Ventures and Federated Kaufman Fund.
Cowen & Co. LLC, of New York, served as lead placement agent, and Needham & Co. LLC, also of New York, acted as co-placement agent for ...