• Isolagen Inc., of Exton, Pa., completed its previously announced registered direct offering of about 6.76 million shares at $2.04 per share, for gross proceeds of about $13.8 million. The shares were purchased by institutional investors.
• Lexicon Pharmaceuticals Inc., of The Woodlands, Texas, said its financing arrangement with Invus LP, of New York, was approved by stockholders. In the initial investment, Invus will purchase about 50.8 million shares of Lexicon common stock for about $205 million, a weighted average purchase price of about $4.04 per share. That investment is expected to close Tuesday. As part of the deal, Lexicon stockholders, including Invus, may invest an additional $345 million over the next four years. (See BioWorld Today, June 19, 2007.)
• Nanogen Inc., of San Diego, entered a definitive agreement for a $20 million registered offering of senior convertible notes and warrants. Proceeds are expected to fund working capital and general corporate purposes. Nanogen develops technologies to predict, diagnose and help treat disease. Seven Hills Partners LLC served as the placement agent.
• Nventa Biopharmaceuticals Corp., of San Diego, completed its short-form prospectus offering, resulting in the sale of 68.9 million units at $0.125 per unit, for gross proceeds of C$8.6 million (US$8.15 million). Each unit consists of one common share and half a warrant. Each whole warrant is exercisable at $C0.25 per share until Feb. 22, 2010. The company, traded on the Toronto Stock Exchange, is developing therapeutics for treating viral infections and cancer, with a focus on diseases caused by the human papillomavirus.