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Financings in Brief: Gliatech

This article was originally published in The Gray Sheet

Executive Summary

Gliatech: Files registration statement with the Securities and Exchange Commission for an initial public offering of 2.3 mil. shares of its common stock. Shares are expected to be sold for between $10 and $12 each, the company says. Gliatech manufactures the Adcon line of products to control surgical adhesion. The Cleveland, Ohio-based company currently is conducting U.S. clinical trials of its Adcon-L and Adcon-T/N gels, for prevention of adhesions in lumbar and tendon/peripheral nerve surgeries, respectively. Montgomery Securities, Vector Securities International, and McDonald & Company Securities will co-manage the offering, Gliatech says...

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