Allon Therapeutics Inc. closed on a C$15 (US$14 million) bought-deal financing that was disclosed earlier this month.

The Vancouver, British Columbia-based company sold 12.5 million units at C$1.20 per unit. Each unit consists of one common share and half a warrant. Each of the resulting 6.25 million whole warrants is exercisable for two years at C$1.65 per share.

The financing was led by Blackmont Capital Inc., and included GMP Securities LP, Cormark Securities Inc. and Versant Partners Inc.

Allon is developing drugs that protect against neurodegenerative conditions. It has three Phase II clinical programs, in Alzheimer's disease, mild cognitive impairment associated with coronary artery bypass graft surgery and schizophrenia-related cognitive impairment.

Allon's platform is based on the neuroprotective activity associated with vasoactive intestinal peptides, while its compounds are fragments of the activity-dependent neuroprotective protein and the activity-dependent neurotrophic factor. The company was founded on work licensed from Tel Aviv University and the U.S. National Institutes of Health.

Allon's stock (CNX:NPC) gained C$0.06 Tuesday to close at C$1.15.

In other financing news:

• Talima Therapeutics Inc., of Santa Clara, Calif., raised $19 million in a second financing round. U.S. Venture Partners and Latterell Venture Partners led the round, joining existing investors De Novo Ventures and Palo Alto Healthcare. Talima, founded in 2005, is developing a micro-implant technology for site-specific drug delivery. The initial focus at Talima is on dermatology indications.

• Aegerion Pharmaceuticals Inc., of Bridgewater, N.J., set terms for its proposed initial public offering. It said it would sell 5 million shares at $12 to $14 per share, which would gross $65 million if priced at the midrange of that estimate. Underwriters would have an overallotment option on 750,000 additional shares. Aegerion, which is developing lipid-lowering drugs, registered for an IPO of up to $86 million in March. (See BioWorld Today, March 22. 2007.)

• BT Pharma, of Toulouse, France, closed a €1.3 million (US$1.75 million) bridge financing investment from current shareholders and a new private investor. Funds are expected to enable the company to move its therapeutic vaccine candidate, ProCervix, through preclinical development and up to Phase I/II trials. The vaccine is being developed to treat high-grade neoplasia caused by the human papillomavirus. BT Pharma said a placebo-controlled trial in women bearing CIN II/CIN III lesions is planned for the first third of 2008.