US-based biotechnology company CTD Holdings has completed issuing 20,000 units of series B convertible preferred stock for the development of its lead drug candidate Trappsol Cyclo.
Priced at $100 a unit, the private placement helped to raise $2m in gross proceeds.
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Each unit includes one series B convertible preferred share, which can be converted into 400 shares of common stock, and a seven-year warrant to buy 400 shares of common stock at $0.25 a share.
The company has appointed Scarsdale Equities as financial adviser for the transaction.
South Korean pharmaceuticals company Peptron has completed issuing convertible bonds in a private placement to raise $24.
The company plans to use the proceeds to operate a Good Manufacturing Practice (GMP)-compliant manufacturing facility for the production of SR-exenatide and to initiate a phase two clinical trial on the product for Parkinson’s and Alzheimer’s disease.
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By GlobalDataUS-based biopharmaceutical company Hemispherx Biopharma has announced to issue 6.6 million shares of its common stock to raise $2.57m, which it plans to use for the production of new Ampligen and other corporate purposes.
The private placement will be subscribed to by accredited institutional investors.
The company has also agreed to issue 3.3 million shares of class A common stock warrants and the same number of shares of class B common stock warrants in a private placement.
The combined price for one share of common stock and each warrant will be $0.39.
The company has appointed Maxim Group as sole placement agent, and Silverman Shin & Byrne as legal adviser for the transaction.
Chinese pharmaceutical company Tonghua Golden-Horse Pharmaceutical Industry has completed issuing the first tranche of corporate bonds in a private placement to raise CNY150m ($23.89m).
The bonds, which will mature in 2021, will bear an interest rate of 8%.
US-based biopharmaceutical company Palatin Technologies plans to issue shares of its common stock in a public offering to raise $25m.
The company proposes to use the proceeds for fulfilling general corporate purposes and for capital expenditure.
Canaccord Genuity Group has been appointed as sales agent, while Thompson Hine has been appointed as legal adviser for the transaction.
US-based consumer packaged goods provider Procter & Gamble Company (P&G) has agreed with Merck to acquire the latter’s consumer health business for €3.4bn ($4.21bn) in a cash transaction.
Merck’s consumer health workforce of 3,300 will move to P&G, upon completion of the acquisition by the end of 2018.
Merck’s consumer health business offers a variety of over-the-counter (OTC) products to relieve muscle, joint and back pain, colds and headaches. The products include Neurobion, Dolo-Neurobion, Femibion, Nasivin, Bion3, Seven Seas and Kytta.
JPMorgan Chase & Co has been appointed as financial adviser and Freshfields Bruckhaus Deringer as legal adviser to Merck for the transaction.
Goetzpartners Corporate Finance has been appointed as financial adviser to the board of Merck.
