new version available

Newsletter Sign Up

Please enter your email to receive FREE venture capital and private equity special offers, news, and information!

Your Name: 

Your Email:  

August 19, 2012

Pharmaceutical Company Raises $ 3,475,000

Filed under: Venture Capital News — admin @ 1:43 pm

BioSante Pharmaceuticals announced on Friday, 17th of August 2012 that it received $ 3,475,000 in direct offering of securities from an institutional investor. The company anticipates that it will receive a net amount of $ 3,3 million after the fees of the placement agent and offering expenses.

BioSante Pharmaceuticals has offered its consent to sell 2,359,932 shares of the common stock and warrants and wants to purchase 1,179,966 supplementary shares of the common stock. Every unit, that represents one share of the common stock and warrant will be sold for the price of $1.4725.

BioSate Pharmaceuticals’ president and chief executive officer, Mr. Stephen M. Simes declared that they are very pleased to have that commitment from the new institutional investor. He also said that that funding offers an additional working capital to increase the company’s cash reserve for payment of the near – term debt, continue seeking and implementing alternatives regarding the products of the company (licenses, business arrangements and collaborations, transactions with other biotech and pharmaceutical companies) and fund the clinical activities of their LibiGel®.

The offering of the investment is expected to happen by 21st of August 2012, after the closing conditions.

BioSante Pharmaceutical is a company specialized on creating products for oncology and female sexual health, for sexual dysfunction and cancer vaccines. At the beginning of June 2012 the company had 20.1 million common shares outstanding and at the end of March 2012 around $ 49.5 million in cash and cash equivalents.


Facebook comments:

Share This Post:  

Try out our Venture Capital Firms
and Angel Investors
database for FREE!

Enter your name and valid e-mail address to download our FREE
investor database trial version, then click the "Get It Now!" button

Your Name:    

Your Email:     

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.



Enter your name and valid Primary Email Address below now to download our FREE trial version, then click the "Get It Now!" button to start the downloading.

Your Name: 

Your Email: 

NOTICE: This is a spam-free site. Your email address will never be sold or traded and you may unsubscribe at anytime.

Tip: VCgate gives you access to 4,500+ venture capital and private equity investors worldwide at the touch of a button.