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Article: Vitex Offering Brings In $14.4M For Blood Purifying Technology.
- Article from:
- BIOWORLD Today
- Article date:
- November 4, 2009
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National Editor
With pivotal Phase III trials under way testing its technology for inactivating pathogens in blood, V.I. Technologies Inc. (Vitex) said its shareholder rights offering has nailed down commitments totaling more than $14.4 million and is in line for another $4 million payment from a partner.
"This tides them over into next year, but not real far into next year," said Peter Parker, general partner with Ampersand Ventures, of Wellesley, Mass., which is Watertown, Mass-based Vitex's largest shareholder.
"It's enough time to get a corporate partner, which is what they really need and that's the whole point of the financing," Parker ...