Gamma camera probe developer Neoprobe will receive $3.5 million after an exercise of warrants by investment firm Platinum-Montaur Life Sciences.
The New York City-based company agreed to exercise all 6 million of its class Y warrants. Neoprobe has already received $1.6 million in the first tranche; the remaining $1.85 million will be received no later than September 30.
Dublin, OH-based Neoprobe said the funds ensure the financial resources necessary to complete the development of its Lymphoseek agent and to prepare for the commencement of a new phase III evaluation of its radiolabeled cancer-specific targeting technology.
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Neoprobe starts second Lymphoseek trial, May 28, 2009
Neoprobe hits Lymphoseek clinical milestone, March 19, 2009
Neoprobe debuts high-energy probe, March 5, 2009
Neoprobe taps new VP, February 10, 2009
Neoprobe completes financing, December 8, 2008
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