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Bioheart, Inc.
Stem cell therapy company raises $19M in Series D round
November 4th, 2005
Privately held Sunrise, Florida-based Bioheart, Inc., recently closed its Series D round, in which it raised $19 million, about $4 million more than expected. The private placement was oversubscribed due to additional investor interest, said Howard Leonhardt, Bioheart's president and CEO, adding that the financing "actually could have been greater than that amount, but we had a time cutoff." To date, the company has raised about $55 million. Proceeds are expected to sustain operations through 2006 and fund upcoming phase II/III trials for the company's autologous cell products aimed at repairing damaged heart muscle. Leonhardt said money also will go...
Source: Biotech Law Weekly (2005-11-04)
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