We got a little spike in NWBT at the end of the day, but no news. Not worried.
Meanwhile, back at the gene therapy ranch . . .
>>GAITHERSBURG, Md., Dec. 21 /PRNewswire/ -- GenVec, Inc. (Nasdaq: GNVC - news) announced today the completion of a private placement of 3,582,000 shares of common stock that raised gross proceeds of approximately $13 million. The shares were purchased by funds managed by HealthCare Ventures.
``We are pleased with this new financial commitment and the expanded flexibility it provides our company to continue our current development programs and to explore the development of additional product candidates,'' said Paul H. Fischer, GenVec's Chief Executive Officer.
The proceeds from the placement will be used to further GenVec's clinical development programs for TNFerade(TM), which is being developed for use in the treatment of certain cancers, and AdPEDF, which is being developed for use in the treatment of certain kinds of blindness, particularly macular degeneration and diabetic retinopathy, and for general corporate purposes.
HealthCare Ventures based in Princeton, New Jersey, is exclusively devoted to capital formation for the healthcare industry. HealthCare Ventures (HCV) is among the largest venture capital funds in the world specialized in healthcare. HCV has formed many leading healthcare companies including MedImmune and Human Genome Sciences.<<
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Cheers, Tuck |
