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PIPE brings in $17mm for Transition Therapeutics

Executive Summary

Transition Therapeutics Inc. (metabolic, neurological, and musculoskeletal diseases) raised $17mm through the sale of 3.2mm units at $5.32 (a 2% premium) to Oracle Investment Management, Jack W. Schuler, Larry N. Feinberg, and company management and board members. Each unit consists of one common share and 0.61 of a two-year warrant; whole warrants are exercisable at $7.10 per share. The company will use the money to finish Phase II trials of ELND005 in agitation and aggression associated with Alzheimer's disease, and TT401 (partnered with Lilly) in Type II diabetes.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement
    • Private Investment in Public Biotech

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