Published in Pharma Investments, Ventures and Law Weekly, July 30th, 2006
The closing follows the $5 million bridge financing provided to the company by Durus in March 2006.
The company issued new shares of its Series B preferred stock, which are convertible into five million shares of common stock of the company, and warrants to purchase five million shares of the company's common stock in exchange for the cancellation of $5 million of existing subordinated promissory notes of the company currently held by Durus.
In addition, at the closing Durus provided approximately...
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