Contrast agent developer Palatin Technologies has completed an offering yielding gross proceeds of $19 million. Investors in the offering included ProQuest Investments, Federated Kaufmann Funds, Lurie Investments, Biotechnology Value Fund, and Albert Fried & Company, according to the Cranbury, NJ-based vendor.
Palatin said it would use the funds for support and advancement of its internal programs and product pipeline, and for general corporate purposes. The funds, combined with Palatin's current cash position, are expected to last through 2004, according to the company.
By AuntMinnie.com staff writersApril 1, 2003
Related Reading
Palatin fattens coffers for research, November 20, 2002
Palatin’s revenues down, losses up in fiscal 2002, October 1, 2002
Palatin adds to war chest, August 2, 2002
Palatin, Mallinckrodt restructure deal, May 15, 2002
Palatin raises $11 million, November 12, 2001
Copyright © 2003 AuntMinnie.com
