Noven Pharmaceuticals Inc., a Miami,Fla.-based a developer oftransdermal drug delivery systems, raised a net of $800,000 ina private sale of 589,266 shares of common stock at $1.50 pershare. The stock was purchased by a group of private investors,giving them a 4.7 percent equity holding. After the offering,Noven (NASDAQ:NOVN) has 12.6 million shares of stockoutstanding.

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