AspenBio Pharma Inc., of Castle Rock, Colo., closed its previously announced private placement, raising gross proceeds of $18.2 million through the sale of 2.5 million shares of common stock...Proceeds would be used for general corporate purposes, including clinical trials such as the ongoing Phase III study of recombinant plasma kallikrien inhibitor DX-88 (ecallantide) for hereditary angioedema (HAE).

AspenBio Pharma Inc., of Castle Rock, Colo., entered into securities purchase agreements in connection with a private placement with a group of existing and new investors...AspenBio will receive approximately $18 million in gross proceeds from the sale of about 2.5 million shares of its common stock...The company said it will use the proceeds to advance its research in multiple myeloma with the goal of initiating a Phase I clinical trial.

Akela Pharma Inc., of St-Laurent, Quebec, said it will not go ahead with plans for a U.S...Gross proceeds of that sale will total $312 million, and those funds, plus the $85 million up-front fee received from Sanofi earlier this month, will allow Regeneron to end the year with an estimated $840 million to $850 million in cash and securities

BioWorld Today Correspondent Santaris Pharma AS raised €20.4 million (US$29.4 million) in an investment round led by Gilde Healthcare Partners BV, which contributed €7.5 million to the total...Proceeds will be used to advance clinical and preclinical development of Deltanoid's vitamin D analogues...Titan is developing a pipeline of mid- to late-stage drugs for neurological and other disorders.

Ondine Biopharma Corp., of Vancouver, British Columbia, is raising C$5.5 million (US$5.6 million) in gross proceeds from a nonbrokered private placement of 5 million units - each unit consisting of one common share and one-half of one common share purchase warrant - priced at C$1.10 apiece...That move follows the specialty pharma firm's agreement last week to be acquired by London-based GlaxoSmithKline plc for $1.65 billion. (See BioWorld Today, Nov. 26, 2007...Vivo Ventures led the financing, with

MI acquired Onalta from Novartis Pharma AG, of Basel, Switzerland, in January to complement Azedra...Epix expects to use the proceeds to finance ongoing clinical trials, advance its research and development activities and fund general corporate operations...Xanodyne Pharmaceuticals Inc., of Newport, Ky., filed for an IPO but did not specify a price per share or number of shares targeted.

priced a public offering of 21.8 million shares at $2.75 per share, generating gross proceeds of $60 million...Proceeds of both financings will support Russian and New Zealand clinical trials of DiabeCell, the company's Type I diabetes product, and will fund ongoing expansion of the pig breeding herd to meet clinical requirements

It's not that the disease is intractable," he said, but that groundwork has not been properly laid before starting clinical trials...Medicure Inc., of Winnipeg, Manitoba, raised gross proceeds of $16 million through a private placement, $1 million more than planned

At the midpoint price, the offering would bring MAP gross proceeds of $75 million, which it plans to use for development activities, including clinical trials related to aerosolized drugs UDB for asthma and MAP0004 for migraine. (See BioWorld Today, June 19, 2007

Enobia has a contract with Laureate Pharma Inc., of Princeton, N.J., to produce the enzyme for clinical trials...Funds will be used in development of products based on the company's Mimetic Ligand technology.

Cytogen expects the financing to raise about $10.1 million in gross proceeds, which will be used to support the marketing of Caphosol, which was launched in March as a topical adjunct treatment of oral mucositis caused by radiation or high-dose chemotherapy...Money also will be used to advance clinical development programs, pursue additional in-licensing opportunities and for other general corporate purposes

If clinical trials demonstrate that, too, the commercial implications could be very significant...Bioxel Pharma Inc., of Ste-Foy, Quebec, entered an engagement letter with Paradigm Capital Inc...to raise up to C$8 million (US$7.5 million) in aggregate gross proceeds through an offering of units, each comprised of one common share and one half one common share purchase warrant

When the full data were presented at the American Society of Clinical Oncology annual meeting in June, the stock popped again, reaching a 52-week high of $35.16...Onyx's only other clinical product candidate is an early stage cell cycle kinase inhibitor...IDM Pharma Inc., of Irvine, Calif., is raising $25 million in an offering of common stock and warrants at $3.50 per unit

Staff Writer Privately held specialty pharmaceutical firm Roxro Pharma Inc...The Menlo Park, Calif.-based company said funds should support ROX-888 "and our clinical pipeline well into the future...Roxro's strategy is to in-license compounds from pharma and biotech to develop for acute medical conditions

Earlier this year, Osiris made headlines with early Provacel clinical data...7TM Pharma A/S, of Horsholm, Denmark, raised DKK123 million (US$22.2 million) in a financing round led by SR One Ltd., with support from existing investors...In conjunction with the financing, the company added Carl Gordon, of OrbiMed, to its board.

Following the positive Phase III results, Cypress was entitled to receive reimbursement of certain clinical trial costs as well as its first milestone payment from Forest under their potential $250 million partnership from 2004...Gross proceeds for 9.29 million units sold were $9.68 million

decided to sell 4.75 million shares at $4.43 per share, raising gross proceeds of $21 million...If and when it does, proceeds would be used to fund late-stage clinical trials of radiation sensitizer Efaproxyn (efaproxiral) and antifolate PDX (pralatrexate), to support potential commercialization of Efaproxyn, for other development activities, or for general corporate purposes

The bulk of the funds, or about $40 million, is earmarked for clinical development of the lead product, VIAject, which began two pivotal Phase III studies in September in diabetes...Net proceeds of about $39.3 million are expected to support clinical research and development programs, the commercialization and manufacturing of its product candidates, and for other general corporate purposes...Shares of Unigene (OTC BB:UGNE) closed at $2.50 Friday, up 8 cents.

Avid, of Philadelphia, has five imaging compounds in clinical development, and recently announced initial positive results on AV-1, its lead compound for imaging amyloid plaques in Alzheimer's disease patients...In addition, Avid is conducting clinical studies on a pipeline of next-generation PET and SPECT agents...The company is developing products for cancer screening and diagnostics.