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.

These funds will allow us to move forward as planned to start our Phase III clinical trial in first-line advanced primary head and neck cancer," Geert Kersten, CEO of Vienna, Va.-based Cel-Sci, said in a news release...aTyr Pharma, of San Diego, closed its $10.5 million Series B financing round...A sale of 6 million shares at Tuesday's closing price of $11.50 would bring in gross proceeds of $69 million

A.P. Pharma Inc., of Redwood City, Calif., filed a registration statement for a proposed public offering of up to $28.8 million in common stock...Proceeds from the financing are expected to support clinical development of APF530, a Phase III-stage drug for chemotherapy-induced nausea and vomiting, as well as for development of other drug candidates, working capital, capital expenditures and other general corporate purposes...Discovery Laboratories Inc., of Warrington, Pa., completed its previously

Early in the programs' human testing, healthy volunteers would be used for establishing clinical efficacy through established models of pain "that are fairly predictive," Lamontagne said, "so you can get an idea of your compounds' efficacy, or some preliminary ideas...Cardium Therapeutics Inc., of San Diego, is raising about $21.5 million in gross proceeds after entering definitive purchase agreements for the sale of stock and warrants to institutional and other accredited investors

The trial will enroll approximately 30 patients at one or two clinical sites in New Zealand...Adherex expects the financing to last into 2008 and support clinical development of cancer drugs ADH-1 (Exherin) and eniluracil, which was licensed from GlaxoSmithKline plc., of London. (See BioWorld Today, Jan. 19, 2007...IDM Pharma Inc., of Irvine, Calif., closed a $12.8 million private placement through the sale of 4.5 million shares of common stock at the market price of $2.82 per share

is raising about $22 million in gross proceeds by way of a private stock and warrant deal to finance research and development programs, as well as general corporate purposes...Genelabs Technologies Inc., of Redwood City, Calif., received almost $2.2 million in gross proceeds after selling substantially all of its remaining equity in Genovate Biotechnology Co

brought in $15.7 million in a private investment round to support clinical development of its lead compounds in cancer and women's health...agreed to purchase 30.3 million units of the company priced at 33 cents per unit for gross proceeds of about $10 million and offer an additional 45.5 million units at the same price for potential additional proceeds of $15 million...Cardiome Pharma Inc., of Vancouver, British Columbia, said underwriters of its cross-border public offering of 8 million shares

NovaDel Pharma Inc., of Flemington, N.J., agreed to issue 9.8 million shares of stock to raise about $14 million in gross proceeds to fund the development of its pipeline of oral spray candidates

The hypercholesterolemia product will be the subject of Alnylam's second clinical development program...Funds will support clinical and preclinical work, discovery and general corporate purposes. (See BioWorld Today, Dec. 11, 2006...Tom Rolfs, of Red Top Capital and Carl Spalding.

If exercised in full, the option would bring Vertex another $29.7 million in gross proceeds...It is concentrating its resources on three clinical-stage programs: VX-950 (telaprevir) for chronic hepatitis C infection, which is in Phase IIb...The lead drug, VX-950, is partnered with Mitsubishi Pharma Corp., of Osaka, Japan, for the Far East and with Janssen for the rest of the world except North America, where Vertex retained the rights

raised $40 million in gross proceeds through the sale of its stock to institutional investors...The money was earmarked to fund the clinical development of its BEMA fentanyl product

Avidia plans to initiate a clinical trial of a subcutaneous formulation in the next few months in inflammation...Beyond funding the clinical work for the IL-6 and IgE programs, funding from the Series C will go toward expanding the portfolio of products based on the avimer technology, investigating new applications and delivery methods stemming from the technology, and positioning the company to pursue strategic collaborations...AspenBio Pharma Inc., of Castle Rock, Colo., completed and terminated its

Behind its clinical work, Aerovance also has a preclinical program evaluating PEGylated formulations of Aerovant and Aeroderm in inflammatory indications...and European investors to raise gross proceeds of about $25 million

Closing only a few months after KAI partnered its only clinical-stage product in a large pharma deal, the funding "was an opportunistic financing for us," said Steven James, president and CEO...PSivida Ltd., of Perth, Australia, is raising gross proceeds of A$29 million (US$22 million) through a rights offering of one ordinary new share of the company for every eight shares held at May 22 at an issue price of A60 cents per share

The company has three products in clinical development, with its lead candidate, iloperidone, in a 600-patient Phase III trial that began in November...Novagali Pharma SA, of Evry, France, raised €26 million in a Series C financing that involved new and existing investors...Palatin Technologies Inc., of Cranbury, N.J., raised gross proceeds of about $27 million through a stock and warrants sale

Proceeds will be used to fund the clinical trials for BioSyntech's three leading products and for general working capital purposes. (See BioWorld Today, March 2, 2006...Purchasers included existing investors Montreal-based firms Picchio Pharma, CDP Capital and the Business Development Bank of Canada, along with new investors the Solidarity Fund QFL, and Fondaction CSN, both of Montreal...Proceeds from the offering would support clinical development of PTC124, which is in Phase II trials for treating

Esprit Pharma Inc., of East Brunswick, N.J., secured a $50 million credit facility from Drawbridge Special Opportunities Fund, a fund managed by New York-based Fortress Investment Group...Money will be used to fund clinical and preclinical development of its existing product candidates, as well as manufacturing of clinical-grade materials, and for other research and development initiatives

A big pharma collaborator might be sought for a drug marketed to primary-care physicians, while CombinatoRx could sell certain niche products on its own, Forrestor said...The burn rate this year is estimated at $32 million to $37 million, "increasing a little bit next year, as we go into later-stage clinical studies," Forrester said...There were no agent fees, and the placement was in addition to about 5.4 million shares for C$5.8 million placed on March 22, increasing the gross proceeds of the

Net proceeds will be used to fund the preclinical and clinical development of the company’s product candidates and for capital and general corporate purposes...Viragen Inc., of Plantation, Fla., completed a private placement unit offering to institutional and accredited investors for gross proceeds of about $5.2 million