• Abiant Inc., of Chicago, closed a $600,000 private placement led by Heartland Angels, an angel network specializing in early-stage technology, and including the Kettering Medical Center and other participants. Abiant's aim is to use image analysis methods and software to provide a sensitive biomarker of drug effects and disease progression. The company focuses its efforts in areas such as central nervous system diseases, oncology and inflammation.

• DeltaDOT Ltd., of London, received £3 million (US$6.05 million) in the fourth tranche of a private financing round, bringing the total amount raised in the round to £6 million (US$12.1 million). Proceeds will support development and sales of capillary and microfluidic products for molecular imaging.

• Palatin Technologies Inc., of Cranbury, N.J., filed a shelf registration statement with the SEC to raise up to $50 million through the future sale of stock, debt and/or warrants. The filing followed positive Phase II data announced last week with lead product candidate bremelanotide in female sexual arousal disorder. Palatin regained rights to bremelanotide last month from former partner King Pharmaceuticals Inc. after the FDA raised concerns about the drug's use in erectile dysfunction, delaying Phase III trials. Palatin reported $33.8 million in cash, equivalents and investments at the end of the second quarter. (See BioWorld Today, Aug. 31, 2007.)

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