Xytronyx Inc. announced last week that it has completed anoffshore private placement of equity to a group of internationalinvestors (including institutions, private individuals andpresent shareholders), resulting in gross proceeds of about$1.23 million.
Combined with the $1.28 million the company raised earlier inthe month -- also from offshore investors -- the companyraised roughly $2.51 million in December.
Xytronyx (ASE:XYX) of San Diego last raised money in July,when it garnered $1.74 million from a private placement. Thecompany develops and commercializes products based onbiotechnology research, primarily in the areas of medicine,dentistry and veterinary medicine.
The stock closed unchanged Thursday at $8.50 a share.
-- Jennifer Van Brunt Senior Editor
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