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Financings in Brief: Norian

This article was originally published in The Gray Sheet

Executive Summary

Norian: Closes $19.8 mil. private placement, funds from which are pegged to help support multi-center clinical trials of the firm's Skeletal Repair System, "an injectable bone-mineral substitute designed to simplify, improve or expand the treatments of bone fractures and defects" ("The Gray Sheet" Feb. 20, I&W-3). An ongoing U.S. study is comparing use of the product to conventional treatment in fracture stabilization in over 300 wrist-fracture patients; a separate study planned for the first quarter of 1996 would involve use to augment orthopedic hardware in hip fracture repair. Cupertino, California-based Norian says it hopes to launch SRS "for general use in North America and throughout Europe in 1997 and in Japan and other countries in 1998." Frazier Securities, L.P. was placement agent for the financing...

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