Pharmaceutical developer ImaRx Therapeutics reported that it has placed 2.3 million shares of common stock, raising gross proceeds of $7 million, according to the Tucson, AZ-based firm.
The company will use the net proceeds to fund the clinical trials of its lead technology, SonoLysis, which incorporates nanobubbles and ultrasound to dissolve blood clots. A phase I/II clinical trial for the treatment of peripheral arterial occlusions, as well as a phase II trial for stroke, are scheduled to begin in the second quarter this year, ImaRx said.
By AuntMinnie.com staff writers
March 10, 2005
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Ultrasound bubbles over into therapy, February 12, 2001
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