IsoRay lands financing

AuntMinnie.com staff writers
Nov 21, 2010

Medical isotope developer IsoRay Medical has inked an agreement to sell $2.25 million in common stock to an investor.

The agreement also has the potential for nearly $2.1 million in additional funding through two subsequent short-term warrant tranches, according to the Richland, WA-based vendor. IsoRay said it would use the funds to support the manufacturing and inventory of its GliaSite radiation therapy system, a balloon catheter device used to treat brain cancer.

IsoRay plans to bring GliaSite to market in mid-2011.

Related Reading

IsoRay Q1 sales dip by 4%, November 16, 2010

IsoRay receives QTDP grant, November 8, 2010

IsoRay wraps up feasibility study, October 27, 2010

IsoRay reports NSCLC multicenter study, October 13, 2010

IsoRay revenue dips in FY10, September 28, 2010

Copyright © 2010 AuntMinnie.com

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