Navigation Links
Discovery Labs Receives $30 Million Funding Commitment from Deerfield Management
Date:2/13/2013

be prepaid in whole or in part without penalty at any time.  The principal amount of the loan is payable in three equal annual installments on the fourth, fifth and sixth anniversaries of the facility agreement, except that, if Discovery Labs achieves certain revenue or market capitalization targets, the principal payments due on the fourth and fifth anniversaries could be deferred for one year.  Accordingly, if the milestones are achieved, payment of the principal amount could be deferred until the maturity date of the loan in 2019.  The outstanding principal amount of the loan at any time will accrue interest at a rate of 8.75% per annum, payable quarterly in cash.  The facility agreement contains customary terms and conditions but does not require Discovery Labs to meet minimum financial and revenue performance covenants.  In connection with each advance, Deerfield will receive a transaction fee equal to 1.5% of the amount disbursed.  In connection with the initial advance, Deerfield will receive warrants to purchase 2.3 million shares of common stock, par value $.001 per share (Common Stock), at an exercise price of $2.81 per share, which represents a premium of 24% over the closing price of the Company's common stock preceding the execution of the facility agreement.  Upon disbursement of the $20 million advance, Deerfield will receive warrants to purchase an additional 4.7 million shares of Common Stock at the same exercise price per share of Common Stock.  All of the warrants will expire on the sixth anniversary date of the facility agreement.

Additional information about the facility and the terms of the related agreements is included in a Current Report on Form 8-K that is expected to be filed today with the Securities and Exchange Commission.

This press release is neither an offer to sell nor a solicitation of an offer to bu
'/>"/>

SOURCE Discovery Laboratories, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Page: 1 2 3 4 5

Related biology technology :

1. Chicago to Welcome Data Science, Big Data and Data Mining Leaders at the 19th International ACM Knowledge Discovery and Data Mining Conference, KDD 2013
2. Glenmark Announces a New Discovery and the Initiation of IND Enabling Studies of a Novel Monoclonal Antibody Targeting OX40
3. Discovery in synthetic biology takes us a step closer to new industrial revolution
4. Automated design for drug discovery
5. Japan Bioinformatics Announces Study on Leading Mapping Tools for DNA Mutation Discovery
6. Research discovery could revolutionize semiconductor manufacture
7. Stem Cell Pioneer Recognized for 20 Years of Discovery and Innovation
8. Discovery could hold the key to super-sensory hearing
9. Sweet diesel! Discovery resurrects process to convert sugar directly to diesel
10. New discovery shows promise in future speed of synthesizing high-demand nanomaterials
11. UCF nanoparticle discovery opens door for pharmaceuticals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/15/2014)... SAN JOSE, California , January 15, 2014 ... antibody-drug conjugates for cancer, today announced the appointment of Thomas ... Reynolds has over 20 years, development experience gained in the ... Genetics. "I am delighted to welcome Tom at ...
(Date:1/15/2014)... , January 15, 2014 A study has ... on the Formula 1 track could help to tackle the ... Technologies (MAT), Stowhealth (a GP surgery based in Stowmarket) and ... provider Simplyhealth. Telemetry technology, which is inspired by ...
(Date:1/15/2014)... The Microcompetition with Foreign DNA theory explains how latent ... viruses is the Epstein Barr Virus (EBV), and one of ... a chronic inflammatory disease that destroys the body’s joints. As ... have high concentrations of EBV DNA in their bodies (1). ...
(Date:1/15/2014)... Freeslate, Inc ., the leading provider of ... one of India’s top five pharmaceutical companies, has received ... for high throughput solid form screening. , Lupin, ... range of quality, affordable generic and branded formulations and ...
Breaking Biology Technology:Oxford BioTherapeutics Appoints Thomas C Reynolds MD, PhD to its Board of Directors 2Oxford BioTherapeutics Appoints Thomas C Reynolds MD, PhD to its Board of Directors 3Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 2Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 3Formula 1 Technology Tackles Obesity in Unique Healthcare Partnership 4Study: Rheumatoid Arthritis (RA) Patients Have EBV; The CBCD Says this is Consistent with Microcompetition 2Study: Rheumatoid Arthritis (RA) Patients Have EBV; The CBCD Says this is Consistent with Microcompetition 3Lupin Selects Freeslate’s CM Protégé PharmD System to Accelerate Polymorph Screening for Drug Development 2Lupin Selects Freeslate’s CM Protégé PharmD System to Accelerate Polymorph Screening for Drug Development 3
... Nile Therapeutics, Inc. (OTCQB: NLTX), a biopharmaceutical company that ... that it has completed its previously announced private placement ... of 5,000,000 shares of common stock and five-year warrants ... for aggregate gross proceeds of $2.5 million.   ...
... June 23, 2011 ,   ... science consulting,has published an insight into the future development ... out a,vision of how the industry may look as ... reflects on the decisions it has made.,In particular, Alacrita ...
... June 22, 2011 Wound Management Technologies, Inc., (OTCQB: ... solutions today announced that Company President Deborah Jenkins Hutchinson, ... OneMedForum NY Conference on Thursday, June 23, 2011 at ... 45 East 45 St. in New York City. The ...
Cached Biology Technology:Nile Therapeutics, Inc. Completes $2.5 Million Private Placement 2Nile Therapeutics, Inc. Completes $2.5 Million Private Placement 3Alacrita Asks "Are We All Biotech Now?" 2Alacrita Asks "Are We All Biotech Now?" 3Wound Management Technologies' Webcasting Live from OneMedForum NY Biotech Conference on Thursday, June 23 at 10 am EDT 2Wound Management Technologies' Webcasting Live from OneMedForum NY Biotech Conference on Thursday, June 23 at 10 am EDT 3
(Date:7/10/2014)... partners predict that western Lake Erie will have a ... the 2014 bloom season in late summer. However, the ... year,s intense bloom, and considerably less than the record-setting ... lake,s western basin and are classified by an estimate ... , Harmful algal blooms (HABs) were common in ...
(Date:7/10/2014)... Clarksburg, MDBrightFocus Foundation, a nonprofit organization funding cutting-edge, ... diseases of glaucoma and macular degeneration, today announced ... to 55 scientists in 19 U.S. states, the ... http://www.brightfocus.org/Grants2014 . , With these latest ... million in research funding in 2014. , The ...
(Date:7/10/2014)... collected by the Moderate Resolution Imaging Spectroradiometer (MODIS) aboard ... spot, which appears as a red mark, is an ... recognized temperatures higher than background. When accompanied by plumes ... are diagnostic for fire. , This area of ... from the fires, although the smoke released by any ...
Breaking Biology News(10 mins):NOAA, partners predict significant harmful algal bloom in western Lake Erie this summer 2NOAA, partners predict significant harmful algal bloom in western Lake Erie this summer 3BrightFocus Foundation announces 55 new grantees in Alzheimer's and vision research 2BrightFocus Foundation announces 55 new grantees in Alzheimer's and vision research 3
... University of Leicester and part-funded by The Leverhulme Trust aims ... By bringing together an artist and a neuroscientist, both ... perception. In the process of the research, both artist and ... the eye of the beholder. Rodrigo Quian Quiroga, Neuroscientist ...
... opinion that inflammation in adipose tissue may cause insulin resistance, ... Swedish medical university Karolinska Institutet, published in the New ... in the body fat is only pernicious. Instead the findings ... necessary for fat cell turnover in the lean, healthy state. ...
... not just thinking big but also very, very, very ... director of Binghamton University,s Center for Advanced Sensors and ... that would detect and identify engineered nanoparticles. Her research ... the environmental release and transformation of these particles. ...
Cached Biology News:Beauty is in the eye of the beholder? 2Inflammation in body fat is not only pernicious 2Chemist monitors nanotechnology's environmental impact 2
... fixative useful for routine procedures. Hollandes contains ... and will decalcify small bone specimens. Tissue ... stained successfully with most stains, and the ... blood cell membranes and cosinophil and endocrine ...
... fixative useful for routine procedures. Hollandes contains ... and will decalcify small bone specimens. Tissue ... stained successfully with most stains, and the ... blood cell membranes and cosinophil and endocrine ...
Chicken polyclonal antibody to Glutathione-S-Transfrease (GST)...
... Acuity is the complete enterprise microarray informatics platform ... analysis. Buy Acuity once and use it forever ... Tools for Quality Acuity has all the ... from your data, from quality control statistics and ...
Biology Products: