Article: Cypress Bioscience, Inc. Closes $10.3 Million Financing; Funds Will be Used to Advance the Company's FMS and Related Initiatives.

Business Editors/Health/Medical Writers

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SAN DIEGO--(BUSINESS WIRE)--April 7, 2003

Cypress Bioscience Inc. (NASDAQ:CYPB) today announced that it has closed on a $10.3 million private placement to institutional and other accredited investors.

Participants in the financing included top tier biotechnology investors, such as ProQuest Investments, SDS Merchant Fund LP and SCO Capital Partners LLC.

The financing included 4,029,342 shares of common stock and warrants to purchase up to 1,007,333 shares of common stock, for a total of $10,320,158, to selected institutional investors and other accredited investors. The ...

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