• Axcan Intermediate Holdings Inc., of Bridgewater, N.J., said it will offer $225 million aggregate principal amount of senior secured notes due 2018 in a private offering. The firm also intends to seek an amendment to its existing senior secured credit facility, which would provide for a senior secured term loan in the aggregate principal amount of $225 million and a senior secured revolving credit facility in the aggregate principal amount of at least $115 million. Net proceeds are expected in part to help finance the pending acquisition of Eurand NV, of Amsterdam, the Netherlands, for $12 per share, or about $583 million. (See BioWorld Today, Dec. 2, 2010.)

• Bioheart Inc., of Sunrise, Fla., will receive a $4 million equity investment from AnC Bio Holdings Inc. and one of its U.S. agents. The proceeds will be used to advance late-stage trials in heart failure and cardiovascular disease. Bioheart is evaluating MyoCell in the Phase II/III MARVEL study and MyoCell SDF-1 in the Phase I REGEN dose escalation study.

• Investors of Generex Biotechnology Corp., of Worcester, Mass., will purchase up to $6 million in company equity in the form of stock and warrants. The initial sale will be for 12 million shares at 25 cents per share and warrants worth 12 million additional shares for $3 million total, with an option to purchase an additional $3 million within 60 days of closing.

• Nektar Therapeutics Inc., of San Francisco, announced the completion of a public offering of 19 million shares of its common stock, which produced net proceeds of $220.4 million. Nektar said it has granted the underwriter an option, exercisable for 30 days after Jan. 19, to purchase up to 2.8 million additional shares of common stock to cover any overallotments. Jefferies & Co. Inc. acted as sole book-running manager in the offering. (See BioWorld Today, Jan. 20, 2011.)

• Oncolytics Biotech Inc., of Calgary, Alberta, received proceeds of about $6.8 million resulting from the exercise of about 1.9 million warrants. The firm now has about 69.9 million shares outstanding and about $47.8 million in cash to fund operations. Oncolytics is in late-stage development with oncolytic virus-based candidate Reolysin in head and neck cancer.

• Pharmasset Inc., of Princeton, N.J., announced that the underwriters of its recent underwritten public offering have exercised their option to purchase from Pharmasset an additional 495,000 shares of common stock. Net proceeds to Pharmasset from the sale of these additional shares are expected to be approximately $21.9 million, bringing the total expected net proceeds of the offering to $123.4 million. Citi is sole book-running manager for the offering. Morgan Stanley & Co. Inc. is serving as the co-lead manager, and BofA Merrill Lynch, Leerink Swann LLC and Wedbush PacGrow Life Sciences are serving as co-managers. (See BioWorld Today, Jan. 24, 2011.)

• pSivida Corp., of Watertown, Mass., sold 2,210,000 shares of common stock and warrants to purchase 552,500 shares of common stock to institutional investors for a total of $11.05 million. Each unit was comprised of one share and 0.25 of one warrant at $5 per unit. Each warrant is worth one share at an exercise price of $5 for five years. Rodman and Renshaw LLC was the lead placement agent, and Ladenburg Thalmann and Co. Inc., were co-placement agents.

• Soligenix Inc., of Princeton, N.J., received $245,810 in transaction costs from the State of New Jersey's Technology Business Tax Certificate Transfer Program. Through the program, biotechnology businesses sell their unused net operating loss carryovers and unused research and development tax credits for at least 80 percent of their associated tax benefits to corporate taxpayers in the state of New Jersey. Funding provided under the program is nondilutive.