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| Home : Allon Completes U.S. $10 Million Financing Agreement with Nordic Biotech Entity |
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Nov 01
2010 |
Allon Completes U.S. $10 Million Financing Agreement with Nordic Biotech Entity |
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 1, 2010) - Allon Therapeutics Inc. (TSX:NPC) announced today it has closed a financing agreement with Isar Pharma K/S ("Isar"), a wholly owned limited partnership of Nordic Biotech Venture Fund II K/S under which Allon has received U.S. $10 million to advance davunetide, Allon's lead neuroprotective drug candidate. Isar's investment is convertible into common shares of Allon at U.S. $0.44 which represents a 10% premium to the 10-day volume weighted average price of Allon prior to closing. |
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| Source:http://www.marketwire.com/mw/release.do?id=1344386&sourceType=3 |
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