Tucson biopharmaceutical company receives $15 million injection
Summary:
Tucson-based ImaRx Therapeutics Inc. has announced it has closed on an equity financing, raising about $15 million in gross proceeds.
Full Story:
Tucson-based ImaRx Therapeutics Inc. has announced it has closed on an equity financing, raising about $15 million in gross proceeds.
The company, which specializes in developing therapies for stroke and vascular disease, with use the capital for general corporate purposes, product acquisitions, and to advance clinical trials.
ImaRx's lead anti-clot product has completed two Phase III trials. Once a treatment has been shown to be effective against a cancer, it is studied in a phase III trial to compare the new treatment with the standard treatment regimen.
Another product, designed to treat stroke, has also completed a Phase III clinical trial while a third is currently in a Phase II trials.
For more information:
"ImaRx Therapeutics completes $15 million private placement," ImaRx press release, 12/16/2005