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Financings in Brief: Applied Immune Sciences

This article was originally published in The Gray Sheet

Executive Summary

Applied Immune Sciences: Receives $21.5 mil. in cash from the sale of newly issued common stock to Rhone-Poulenc Rorer. The sale was made in conjunction with AIS' meeting the second of three funding milestones under a 1993 strategic alliance between the two companies ("The Gray Sheet" June 7, 1993, p. 10). AIS reached the milestone by gaining FDA approval for a clinical trial investigating "a new approach to adjunctive leukemia therapy that is based on research indicating that infused T cell depleted donor peripheral blood improves the immune response of the leukemia patient after allogeneic bone marrow transplantation." AIS received a $21 mil. investment from RPR in January following approval of an investigational device exemption for the AIS CELLector device for purging T and B cells from allogeneic bone marrow ("The Gray Sheet" Jan. 23, 1995). The CELLector will be used in the newly approved trial as well...

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