Columbia Laboratories Inc. on Thursday said it has raised morethan $12 million through a private placement of Series Bconvertible preferred stock.

The shares were offered through Alex. Brown & Sons to a groupof U.S. and European institutional investors and otheraccredited investors. No further details were available.

Hollywood, Fla.-based Columbia develops and markets women'shealth-care products based on its bioadhesive drug deliverysystem. The company's stock (AMEX:COB) closed at $7.38, up 13cents, on Thursday.

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