Cell Genesys Inc. announced Thursday that it concluded a $9million private placement funding, bringing the company's totalprivate equity funds raised to date to about $25 million.

According to Stephen Sherwin, company president and chiefexecutive officer, the funds will be used in part for CellGenesys' product development programs, particularly for itscell transplant and therapeutic protein areas.

New investors in this financing included General ElectricInvestment Corp., New York Life Insurance Co., Frazier & Co.and Invemed Associates, Inc.

"It's a credit to the company's technology and the progresswe've made and that's the perception that our investors have,even given the current market -- both private and public,"Sherwin said.

(c) 1997 American Health Consultants. All rights reserved.

No Comments