BioSante Pharma places $17.7 million in stock

May 13, 2004 — BioSante Pharmaceuticals Inc. (AMEX: BPA, News, Web), a Lincolnshire, Ill., developer of hormone therapy products, announced a private placement of common stock.


The firm placed 2,949,000 shares of common stock at $6 per share with institutional and accredited investors. Investors will also receive warrants to purchase 442,350 shares at $7 per share. Leerink Swann & Co. was placement agent.


The company intends to use the proceeds for development of its product pipeline as well as for general corporate purposes. BioSante uses calcium phosphate particles as small as 100 nanometers in biomedical applications.


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