MRI contrast developer Epix Pharmaceuticals has secured $50 million in financing from a private investment group, the Lexington, MA-based company said.
Kingsbridge Capital has committed to providing up to $50 million of capital during the next three years through the purchase of newly issued shares of Epix common stock. The maximum number of shares that can be sold by Epix under the deal is approximately 8.3 million.
Epix plans to use the financing for development of clinical initiatives for its Vasovist blood-pool MRI contrast agent, the company said.
Related Reading
Epix CEO resigns, July 28, 2008
Epix wins South Korean approval of Vasovist, July 10, 2008
Epix resubmits Vasovist NDA, July 1, 2008
Epix president resigns, May 29, 2008
Epix to resubmit NDA for Vasovist, April 24, 2008
Copyright © 2008 AuntMinnie.com
