Business Update

Advancis closes private placement of common equity, files application for Pulsys

Published in Law and Health Weekly, January 20th, 2007

Advancis Pharmaceutical Corp. (AVNC) has closed its previously announced private placement of common stock, resulting in the receipt of $18 million in gross proceeds and has filed a New Drug Application (NDA) with the U.S. Food and Drug Administration (FDA), for its once-daily Amoxicillin Pulsys.

The company intends to use the proceeds from the financing to prepare for the potential commercial launch of Amoxicillin Pulsys, to continue product development initiatives of its other pulsatile product candidates, and for working capital and general corporate purposes.

The shares sold in the private placement have not been registered under the Securities...

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Source: Law and Health Weekly (2007-01-20)

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