Radiopharmaceutical developer Navidea Biopharmaceuticals has sold common stock and warrants for gross proceeds of $30 million.
The registered public offering with Crede CG III, a wholly owned subsidiary of institutional investor Crede Capital Group, is expected to yield net proceeds of $28.8 million after deducting placement agent fees and estimated offering expenses, according to the firm.
Navidea said it expects to use the funds to support additional growth, including pursuit of commercial opportunities for its Lymphoseek radiopharmaceutical outside the U.S., continued development of its neurodegenerative imaging portfolio, further evaluation of its Manocept platform, and other general corporate purposes.
