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...Spectrum Pharmaceuticals Inc., of Irvine, Calif., completed its previously announced sale of 5.1 million

The notes would be convertible by holders into shares of common stock at an initial conversion rate of about $20.36 per share...aTyr Pharma, of San Diego, closed its $10.5 million Series B financing round

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

Intarcia has conducted two Phase II clinical trials with an injectible formulation of omega interferon, both as a monotherapy and in combination with ribavirin...In prostate cancer, Bayer Schering Pharma AG markets the FDA-approved, CMS-reimbursed Viadur (leuprolide acetate implant...Last week, Memory started a Phase IIa clinical trial of MEM 3454 in Alzheimer's disease

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

The company agreed to sell 3 million shares of common stock priced at $3.34 each...Cardiome Pharma Inc., of Vancouver, British Columbia, said underwriters of its cross-border public offering of 8 million shares exercised in full their overallotment option to purchase an additional 1.2 million shares priced at $10.50 each

Alnylam Pharmaceuticals Inc., of Cambridge, Mass., closed its public offering of 4.7 million shares of common stock for net proceeds of $101 million...Those funds will be invested in the company's clinical and preclinical pipeline, which includes AS1404, getting ready to start Phase III development in lung cancer, and AS1411, which is being prepared for Phase II trials in renal cancer and acute myelogenous leukemia...NovaDel Pharma Inc., of Flemington, N.J., agreed to issue 9.8 million shares of stock

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.

and Canadian rights, in-licensed in October 2004 from NovaDel Pharma Inc., of Flemington, N.J. Hana recently completed pivotal trials of Zensana and expects to submit a new drug application to the FDA by the end of June...BioDelivery Sciences International Inc., of Morrisville, N.C., said it closed a transaction with Clinical Development Capital LLC in which $7 million in funds committed by CDC in July 2005 were converted into BioDelivery shares at $3.50 each, a 40 percent premium to the May 16

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

Proceeds from the offering would support clinical development of PTC124, which is in Phase II trials for treating cystic fibrosis and Duchenne's muscular dystrophy, and ongoing development activities for PTC299, which is set to begin testing in a Phase Ia trial in healthy volunteers and a Phase Ib trial in cancer patients...Seattle Genetics Inc., of Bothell, Wash., closed its public offering of 7.3 million shares of common stock to bring in net proceeds of $37.2 million for clinical and preclinical

7TM Pharma A/S, of Horsholm, Denmark, closed its €19 million (US$23 million) Series C round, led by LD Pensions in collaboration with Scottish Widows Investment Partnership...Money will be used to support operations into 2008, including clinical development through Phase IIa proof-of-concept trials of the company's lead obesity drugs, TM30338 and TM30339, and the initiation of development of further drug candidates from in-house discovery efforts...Net proceeds will be used to support product

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

Institutional and other investors will buy about 4.7 million shares of common stock at $10.25 per share, in a deal expected to close today...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

will allow GenVec to draw down funds in multiple tranches over a three-year period, in exchange for shares of common stock...Santaris Pharma A/S, of Copenhagen, Denmark, completed a €40 million (US$48.3 million) Series B investment round to fund continued development of its portfolio of drug candidates based on LNA, including SPC 2996, an RNA antagonist to Bcl-2 in a Phase I/II trial in chronic lymphocytic leukemia...Martien van Osch, of ABM AMRO, and Holger Reithinger, of GLSV, will join the board

The Seattle-based company entered a definitive agreement to issue 92.9 million shares of common stock at 70 cents each and five-year warrants for the purchase of 25.4 million additional shares at 77 cents each...Proceeds will be used for the clinical development of its three lead preclinical candidates, including its lead drug Alchemix, a multi-target inhibitor that overcomes chemotherapeutic drug resistance by binding to DNA in tumor cells

The company acquired worldwide rights to XY 2405 from Paris-based Fournier Pharma last year...Akesis Pharmaceuticals Inc., of San Diego, entered an agreement to raise up to $4 million in a private placement through the sale of up to 2 million shares of common stock and warrants to purchase up to 1 million shares...private equity fund, WFD Ventures LLC, with undisclosed proceeds expected to support its clinical development program for selected drug/device combination products under development in-house

A third clinical-stage product, pleconaril, aimed at treating the common cold and asthma exacerbations is no longer considered part of ViroPharma's pipeline...Gastrotech Completes €2.3M Round Danish firm Gastrotech Pharma A/S raised €2.3 million (US$2.7 million) in a private equity financing...Its clinical programs include GTP-010 for irritable bowel syndrome and GTP-200 for the treatment of cachexia and other catabolic syndromes

is bringing in $18 million through a public offering to support clinical development...The Malvern, Pa.-based company agreed to sell about 4.2 million shares of common stock at $4.30 per share, far above the closing price of $1.76 per share only a month ago...But the company has yet to disclose a timeline for the clinical development of its avian flu product, which so far had been tested only in preclinical models, and from there, questions of the product's efficacy and production efficiency will come