Finance

Ophthalmic company obtains initial $2M of $16.5M private placement

Published in Anti-Infectives Week, April 26th, 2004

InSite Vision, Inc., (ISV), an ophthalmic therapeutics, diagnostics, and drug-delivery company, announced that it has obtained binding subscription agreements for $16.5 million, before transaction fees and expenses.

The company has accepted approximately $2 million of the subscriptions in the initial closing and will receive the remaining $14.5 million upon receipt of shareholder approval to issue the shares offered to investors.

New York, New York-based Paramount BioCapital, Inc., served as the placement agent for this financing.

To complete the private placement, InSite Vision will require approval by its shareholders to...

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Source: Anti-Infectives Week (2004-04-26)

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