• BioDelivery Sciences International Inc. (BDSI), of Raleigh, N.C., received commitments from institutional investors for an at-market registered direct financing for gross proceeds of $40 million. BDSI will sell 6.8 million shares of common stock and 2.7 million shares of newly designated Series A convertible preferred stock, both at $4.21 apiece, the consolidated closing price of BDSI's common stock (NASDAQ:BDSI) on Nov. 27. The financing is expected to close on Dec. 3. Proceeds will be used to fund completion of BDSI's Phase III development program for BEMA buprenorphine in chronic pain and to advance BEMA buprenorphine/naloxone in opioid dependence to a new drug application submission. Together with cash on hand, the company said proceeds should allow BDSI to reach the next set of milestone payments under the company's commercialization agreement with Endo Health Solutions, of Newark, Del. William Blair & Co. LLC acted as sole lead placement agent for the offering, with JMP Securities LLC and Roth Capital Partners LLC acting as co-placement agents. On Wednesday, BDI's shares closed down 16 cents, at $4.07.

• NanoBio Corp., of Ann Arbor, Mich., closed an $11 million Series C financing, including full participation from its existing investor syndicate. Proceeds will be used to advance the firm's development programs for herpes labialis, cystic fibrosis and nanoemulsion-based vaccines for respiratory syncytial virus and genital herpes.