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This article was originally published in The Gray Sheet

Executive Summary

Firm raises $11.8 mil. in a private placement of 1.5 mil. shares to institutional investors. Lincolnshire, Illinois-based Aksys is conducting clinical trials of its PHD personal hemodialysis system and expects to submit a 510(k) by the end of October (1"The Gray Sheet" Jan. 10, In Brief). Proceeds will support pre-commercialization activities, including a planned ramp-up in sales staff and manufacturing. U.S. Bancorp Piper Jaffray was placement agent for the financing

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