Immunodiagnostics and immunotherapy drug developer Navidea Biopharmaceuticals has secured $7.5 million from Cardinal Health in lieu of a milestone payment.
The move is part of the company's Fix, Fund, Propel strategy, giving Navidea immediate capital, a spokesperson from one of its investors, G2G Ventures, said in a statement released by the firm.
Earlier this month, the New York Stock Exchange American notified Navidea it was in listing noncompliance. In April, the company announced that it would seek to sell an $8 million milestone payment and pursue a $2.75 million equity line of credit.
