Carrington Laboratories Inc. of Irving, Texas, said it will sellconvertible debentures with a total value of $750,000 to anunnamed private investor. The debentures are secured byCarrington inventory, stock and certain assets of its whollyowned subsidiary, Terry Laboratories.
Carrington (NASDAQ:CARN) said it needed the financing to helpusher its flagship drug, Carrisyn, through the marketingapproval process. The company also hopes to build productionfacilities for the drug.
Carrisyn is being evaluated in combination with other drugs asan immune modulator to treat AIDS. The drug containsacemannan, derived from the aloe vera plant.
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