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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: scaram(o)uche who started this subject11/17/2000 1:31:44 PM
From: nigel batesRead Replies (1) of 4974
 
Nov. 17 /PRNewswire/ -- Array BioPharma, Inc. (Nasdaq: ARRY - news) today announced the pricing of an initial public offering of 6.5 million shares of common stock at $7.50 per share. All of the shares are being offered by Array BioPharma. The initial public offering is being underwritten by Lehman Brothers Inc., Deutsche Banc Alex. Brown, and Legg Mason Wood Walker, Incorporated.
Array BioPharma intends to use the net proceeds from the offering to fund its operations, including continued development and manufacturing of existing products as well as research and development of additional products and services, hiring additional personnel and expanding its facilities. A portion of the proceeds may be used to acquire or invest in new products or technologies, pay down debt or acquire complementary businesses. The balance of the proceeds will be used to fund working capital and for general corporate purposes.
Array BioPharma is a discovery research company creating drug candidates through innovations in chemistry. Array's scientists provide premium drug discovery products and services to create, evaluate and optimize potential drug candidates in collaboration with pharmaceutical and biotechnology companies. Array's information-based approach is designed to improve the efficiency of the drug discovery process and increase the quality of potential drug candidates. Array also applies its drug discovery capabilities internally for its own drug discovery programs. For additional information, visit Array's web site at www.arraybiopharma.com....
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