News
Wound Solutions Closes £2m First Tranche of Series A Investment
LONDON, UK (2nd February 2009), -- Wound Solutions, a privately owned medical device company developing novel technologies for the treatment of chronic wounds, today announced that it had reached a first closing of £2 million of its current £8 million Series A funding round. The first tranche of investment enables the company to reach a planned interim review of its current clinical study. Further funding will be required to complete this clinical study and complete current registration and regulatory approval.
Wound Solutions is continuing in discussions with a number of Institutional Investors regarding the further funding of the programme. Wound Solutions is developing electrotherapy devices for the treatment of chronic wounds with its first product the VS01 focused on venous leg ulcers, the most prevalent form of chronic wound in the Western World.
The easy to use VS01 device has been designed to make the established benefits of electrotherapy in wound management available to patients in an ambulatory form. The device is complementary to the existing standard of care, and requires minimal changes to current practice to use. In addition, the device has a number of compliance-enhancing features which further broaden the commercial and clinical appeal of the product.
MorEx Development Partners, LLP Closes £3.4m Private Placement
Elixir Securities is pleased to announce that it has closed a £3.4m financing between newly-formed MorEx Development Partners, LLP ("MDP") and an investor group led by Stephens Investments. MDP will be focused on the clinical development of a novel new radiosensitiser, MorEx. MorEx is a novel new radiation sensitiser which has potential as an adjuvant in first line radiation therapy. Such treatment is administered in as many as 66% of cancer cases, equating to some 100,000 treatments every day. MorEx has shown strong therapeutic enhancement in pre-clinical studies and may be used to either amplify the effect of radiotherapy, or reduce dose-limiting radiation damage to normal tissue. MorEx will be developed initially for the treatment of metastatic brain tumours.
MDP has appointed Professor John Caldwell as Chairman of a Management Board comprising representatives from both Morvus and Stephens. Professor Caldwell is Dean of the Faculty of Medicine at the University of Liverpool and sits on numerous national and international government and industrial advisory committees. He is also a Director of several UK healthcare companies.
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CeNeS Pharmaceuticals Plc: CeNeS Pharmaceuticals plc ("CeNeS" or "the Company"): Proposed placing to raise £6.1m and consolidation of share capital
The Company is pleased to announce that it proposes to raise approximately £6.1 million (before expenses) by means of a placing ("the Placing") of 5,789,137 new ordinary shares (the "Placing Shares") of 30 pence each ("New Ordinary Shares") at 105 pence per share. The placing price of 105 pence per share, reflects the proposed 30 for one consolidation of the ordinary share capital of the Company.
The Directors intend to use the net proceeds of the Placing to prepare for Phase III studies of its lead drug M6G (morphine-6-glucuronide) in the United States and to carry out clinical trials of its other products, further details of which are set out below. The Placing is conditional, inter alia, on the passing of the necessary resolutions at an Extraordinary General Meeting of the Company ("the EGM") to be held on 22 August 2007. The Company will also hold its Annual General Meeting on the same date.
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Neose Closes $43 Million Private Placement of Common Stock and Warrants
HORSHAM, PA.--(BUSINESS WIRE)--March 13, 2007 Neose Technologies, Inc. (Nasdaq:NTEC) today announced that it has closed its previously announced private placement. The Company sold 21,415,447 shares of common stock and warrants to purchase 9,636,950 shares of its common stock at a price of $2.02 per unit. Each unit consists of one share of common stock and a warrant to purchase 0.45 shares of common stock. The warrants have a term of five years and an exercise price of $1.96 per share. The Company realized gross proceeds of approximately $43.3 million. Both new and existing investors participated in the private placement.
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Events
4th Annual Asia Pacific Life Sciences Forum
Following three consecutive years of success, the 4th Annual Asia Pacific Life Sciences Forum will showcase a select group of Asia Pacific biotechnology companies to UK & EU investor and partnering audiences interested in the Asia Pacific region. Attendance is free for media, qualifying analysts, fund managers, investors, venture capitalists, biotech and pharma executives.
Day One is a closed briefing session for Presenting Companies with scheduled partnering meetings taking place in the afternoon, while Day Two is open for all delegates to attend and hear the Company presentations. Formal and informal networking functions will include an evening hosted by the Governor of Victoria Professor David de Kretser.
Organising sponsors include Intersuisse BioScience Managers, Elixir Securities, Grant Thornton and Northbank Communications. For more information, please visit http://www.aplsf.com or contact Intersuisse Elizabeth Steyn on +61 (0)3 9629 8380 or esteyn@intersuisse.com.au