June 3, 2005 — BioDelivery Sciences International Inc. (NASDAQ: BDSI) announced it closed an additional $2.5 million secured convertible debt financing from Laurus Master Fund Ltd. The financing follows a $2.5 million financing from Laurus that the company received in February 2005.
The company says the money will be used primarily to support research, development and commercialization efforts and for general working capital purposes. BioDelivery Sciences is a specialty biopharmaceutical company whose drug delivery technologies include its Bioral nanocochleate technology.