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Financings in Brief: Inhale Therapeutic Systems

This article was originally published in The Gray Sheet

Executive Summary

Inhale Therapeutic Systems: Completes $32.4 mil. private placement of 1.8 mil. common shares at $18 each. Vector Securities International was placement agent for the financing. Proceeds will go toward "expansion of production capabilities and facilities" and development of a drug delivery system to allow pulmonary delivery of "a wide range of drugs, including macromolecules...for systemic and local lung indications," the firm states. Clinical trials using the system in conjunction with four different drugs are under way. The Palo Alto, California-based firm has "feasibility and development partnerships" with several firms, including Baxter, Pfizer, Centeon, Genzyme, Asahi and Lilly...
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