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Fusion Medical Technologies

This article was originally published in The Gray Sheet

Executive Summary

Firm places $13.2 mil. in common stock shares with the State of Wisconsin Investment Board and the Franklin Biotechnology Discovery Fund. Consisting of 1.1 mil. newly issued shares at $12 each, the placement will be used to fund manufacturing scale-up and commercialization of FloSeal and Proceed hemostatic sealant products, approved by FDA in December 1999, as well as for R&D and working capital. "This financing strengthens our balance sheet and provides a solid foundation to support Fusion's continued commercialization of our hemostatic products both domestically and in Europe," Fusion states
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