Navigation Links
Clarient Completes Second Tranche of Private Placement of Convertible Preferred Stock With Oak Investment Partners
Date:5/18/2009

$40 Million in Total Proceeds Retire Safeguard Mezzanine Debt Facility; Support Profitable Growth

ALISO VIEJO, Calif., May 18 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, announced today that it has completed the second tranche of a private placement of convertible preferred stock with Oak Investment Partners, a multi-stage venture capital firm based in Westport, CT. The second tranche for approximately $10.9 million, combined with $29.1 million in proceeds from the first tranche that closed March 26, 2009, will retire $31 million in Clarient borrowings and bolster working capital.

"As we stated in the initial financing announcement, this transaction strengthens Clarient's financials, streamlining our balance sheet and moving us tangibly closer to our goal of sustainable profitability," said Ron Andrews, Vice Chairman and Chief Executive Officer. "Oak is an excellent strategic partner with deep expertise in life sciences that will help Clarient continue its robust growth and expand our share of the dynamic cancer-diagnostic services market."

Clarient intends to retire a $10 million mezzanine debt facility from Safeguard Delaware, Inc., a wholly owned subsidiary of Safeguard Scientifics, Inc. (NYSE: SFE), a provider of growth capital for entrepreneurial and innovative technology and life sciences companies based in Wa
'/>"/>

SOURCE Clarient, Inc.
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3 4 5 6

Related biology technology :

1. Clarient Granted Exclusive License to Commercialize Breast Cancer Biomarker by Indiana University Research and Technology Corporation
2. Clarient Reports Strong Revenue Increase for Fourth Quarter and Full-Year 2008
3. [video] Ronald Andrews, CEO of Clarient, Inc. Discusses Agreement With University of Pennsylvania School of Medicine on WallSt.nets 3-Minute Press Show
4. Clarient Names Raymond J. Land Senior Vice President and Chief Financial Officer
5. Jim Agnello to Resign as Clarient Chief Financial Officer
6. Clarient Announces Fourth Quarter and Year-End 2007 Financial Results
7. CombiMatrix and Clarient Collaborate to Market, Sell Novel Genomics-Based Test for Chronic Lymphotic Leukemia (CLL)
8. Clarient to Commercialize Novel Breast Cancer Profile
9. Clarient CEO Ron Andrews to Participate in OneMedPlace Emerging Healthcare Technologies Finance Forum
10. Oncolytics(R) Biotech Inc. Completes Patient Enrolment in U.S. Phase 2 Sarcoma Study
11. NovImmune Completes CHF 62.5 (USD 54.8) Million Equity Financing to Move Portfolio Forward and Reacquire Product Rights to Lead Antibodies

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2009)...ewswire-FirstCall/ -- Martek Biosciences Corporati...s to release the results of its fourth quarter and...mately 4:00 p.m. Eastern Time (ET). Following the...nference call to discuss these results with invest...l live via webcast by visiting Martek,s web site a...
(Date:12/2/2009)...ewswire/ -- Reportlinker.com announces that a new ...ue: ,, Carbondioxide Incubators - A Global Mar...m/p0164368/Carbondioxide-Incubators---A-Global-Mar...st critical equipment used in microbiology, geneti...roviding a controlled environment to grow and stor...
(Date:12/2/2009)...ire/ -- The world,s first concept demonstration ...ough alternative to replace a petrochemically prod...bber with renewable biomass, made their debut in C... display at a lounge in the common departure area ... December 21, while the other tire will make appea...
(Date:12/2/2009)...mber 2 , - "Bolstering Bi...age" , Coinciding with the International ...epublic is hosting an international conference in ...ological resources in Africa. The,conference will ...ters,scientific experts, private companies, repre...
Breaking Biology Technology:Martek to Announce Fourth Quarter and Fiscal Year 2009 Results 2Reportlinker Adds Carbondioxide Incubators - A Global Market Perspective 2Reportlinker Adds Carbondioxide Incubators - A Global Market Perspective 3Reportlinker Adds Carbondioxide Incubators - A Global Market Perspective 4The World's First Goodyear Concept Tires Made with BioIsoprene(TM) Technology Arrive in Copenhagen in time for United Nations Climate Change Conference 2The World's First Goodyear Concept Tires Made with BioIsoprene(TM) Technology Arrive in Copenhagen in time for United Nations Climate Change Conference 3Libreville International Conference 2-3 June 2010 2
...laire, WI - Getting a tiny magnetic head to ride c... above a spinning hard drive is hard enough. But, ...rive on starts to work against your bottom line. ...Inc. , the Minnesota-based manufacturer of suspens...rld,s computer disk drives. But it,s just the type...
...the years I have watched many people succeed and s... to define their ideas on how and why the world ne...ity characteristics begin to emerge regarding how ...ing of their business plan that these personality ...e. , ,A good business plan is a road map for the f...
...ON, WI - KLAS Enterprises, a research and consulti...orporation Best Overall Vendor in its Top 20 Year-...dors, was based on a confidential survey of CIOs, ...over 4,000 healthcare facilities. , ,KLAS speciali... healthcare,s information technology (HIT) vendors...
Other Biology Technology:Eau Claire Manufacturer Drives Your PC 2Eau Claire Manufacturer Drives Your PC 3Entrepreneurs and Business Plans 2
(Date:12/3/2009)... the design of the upcoming forest deal at Copenha...ding to a scientist at the University of Leeds. ,...s that at least 50% of the carbon credit payments ...g Emissions from Deforestation and Degredation), s...ir property rights assured. , "There is the pote...
(Date:12/3/2009)... snowmelt that occurred during the 2008-09 austral...ve phases for two main climate drivers, ENSO (El N...phere Annular Mode), according to Dr. Marco Tedesc...nces at The City College of New York. , Profes...t the CUNY Graduate Center, added that Antarctic s...
(Date:12/2/2009)...nd alcohol consumption before head and neck cancer...risk of death, according to published studies. Now...ng those who continued these habits after cancer d... to quit smoking; despite this, many still smoke. ...fter their cancer diagnosis, increasing their risk...
Breaking Biology News(10 mins):Forest deal at Copenhagen must avoid creating 'carbon refugees' 2CCNY professor foresees rising Antarctic snowmelt 2Head and neck cancer survivors who use alcohol and cigarettes have increased death risk 2Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont 59649 1Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont 59649 2Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont 59649 3Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont 59649 4Leahy Secures Funds to Support Adoption of Electronic Prescribing in Vermont 59649 5Pennsylvania Secretary of Aging Invites Senior Center Members to Make Ornaments for Capitol Christmas Tree 59644 1Solos Endoscopy Inc Receives Multiple Purchase Orders for its MammoView 28TM 29 Product Line 5537 1Solos Endoscopy Inc Receives Multiple Purchase Orders for its MammoView 28TM 29 Product Line 5537 2
...mily so large it literally covers the earth. They ... as much as 26 feet. Worldwide interest has begun ...ymbiotic bacteria. "We study these nematodes -- wh...erstand how diverse they are, but also to use them...a Stock, a nematomologist in the University of Ari...
...of Science holds mixed blessings for scientists wh...ology. The study, conducted by scientists from Cin...nnover Medical School and Hamburg University in Ge...re about how blood forming stem cells regenerate. ...ards to the side effects associated with genetic e...
...-distance race may do serious harm rather than kee..., according to a cardiologist at UT Southwestern M...etes who drink too much water during a race could ...emia, a condition marked by a loss in the body,s s... such as lethargy, disorientation, seizures and ev...
Other Biology News:Stealth Worms May Improve Insect Pest Control 2Stealth Worms May Improve Insect Pest Control 3Stealth Worms May Improve Insect Pest Control 4Science study holds implications for gene therapy and stem cell biology 2Science study holds implications for gene therapy and stem cell biology 3Bush, Cheney and Rumsfeld are now species of slime-mold beetles -- but strictly in homage 2
...ing as a powerful new tool for protein interaction... groups have been able to be targeted with label t...l-reactive Mts-Atf-Biotin and its long chain analo...e protein interaction tool chest that offer a grou...
...ing as a powerful new tool for protein interaction... groups have been able to be targeted with label t...l-reactive Mts-Atf-Biotin and its long chain analo...e protein interaction tool chest that offer a grou...
RNaseZap Wipes from Ambion
...nchtop and stackable multi-function incubator. It ...lay screen to accurately control temperature and a...istribute temperature in the incubator. Temperatur... controller. Built in maintenance-free stepping mo...
Biology Products: