Advanced Life Sciences Enters Into Definitive Securities Purchase Agreements for $20 Million with New and Existing Institutional Investors

Advanced Life Sciences Holdings, Inc. (NASDAQ:ADLS), a biopharmaceutical company engaged in the discovery, development and commercialization of novel drugs in the therapeutic areas of infection, cancer and inflammation, announced that it entered into definitive securities purchase agreements dated December 10, 2007, to raise approximately $20 million of gross proceeds through a private placement of approximately 10.2 million shares of common stock and warrants to purchase approximately 5.1 million shares of common stock to a group of new and existing institutional investors. The purchase price for each share of common stock is $1.90 and the warrants are exercisable from the date of grant...

Want to see the full article?

• Purchase this article for only $3.00