Novelo To Raise $15M For Lung Cancer, Hep C

April 2007
Bioworld Week;4/23/2007, Vol. 15 Issue 17, p2
The article reports on the financing deal of Novelos Therapeutics Inc. to raise $15 million for its phase III study with NV-002 for lung cancer treatment in Newton, Massachusetts. The company stated that as part of the deal is the sale of its 1,500 shares of Series B convertible preferred stock with a stated value of $10,000 per share. The company said that the firm would get about $10 million more for the pipeline if all the warrants involved in the financing deal are exercised for cash.


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