Alteon, Inc.

Pharmaceutical firm sells $10M in common stock

Published in Medical Device Business Week, February 9th, 2005

Alteon, Inc., (ALT) announced that it has entered into agreements with new and existing institutional investors to sell $10 million of common stock, approximately 9.5 million shares at $1.05 per share, for net proceeds after expenses and fees of approximately $9.6 million.

The agreements are subject to customary closing conditions.

Rodman & Renshaw, LLC served as placement agent in this transaction. The shares are offered through a prospectus supplement pursuant to the company's effective shelf registration statement previously filed with the Securities and Exchange Commission.

Alteon intends to use the net proceeds from the sale...

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Source: Medical Device Business Week (2005-02-09)

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