SAN FRANCISCO, Nov. 17 /PRNewswire-FirstCall/ -- Merriman Curhan Ford Group, Inc. (Nasdaq: MERR) acted as lead placement agent in PolyMedix Inc.'s (OTC Bulletin Board: PYMX) $20.7 million registered public offering of 20.7 million units. The units, which were priced at $1.00 per unit, consist of one share of PolyMedix common stock and one five year warrant to purchase 0.30 of a share of PolyMedix common stock at $1.25 per share.
The company announced the pricing of the public offering on November 11, 2009 and the closing on November 16, 2009. Details on the transaction can be found at PolyMedix's Web site: www.polymedix.com.
About PolyMedix, Inc.
PolyMedix is a publicly traded biotechnology company focused on the development of novel drugs and biomaterials for the treatment of infectious diseases and acute cardiovascular disorders. PolyMedix's compounds are based on biomimetics: non-peptide small molecule drugs that mimic the activity of proteins. The Company's antibiotic compound's small molecule mimetics of human host-defense proteins are believed to have a completely different mechanism of action from all current antibiotic drugs, a mechanism which is intended to make bacterial resistance unlikely to develop. These compounds are being developed as broadspectrum, rapid-acting antibiotics for serious systemic and local infections. The Company is also developing polymeric formulations as antimicrobial biomaterials, which can be used as additives to paints, plastics, and textiles to create self-sterilizing products and surfaces. The Company's anticoagulant antagonist compounds reverse the activity of both heparin and low molecular weight heparins, in keeping with our goal of developing an antagonist drug that is safer and easier to use than current approved therapy. PolyMedix plans to file IND applications during the first quarter of 2008 in anticipation of commencing human clinical trials for both its antibiotic drug and its anticoagulant antagonist. For more information, please visit PolyMedix on its website at www.polymedix.com.
About Merriman Curhan Ford
Merriman Curhan Ford (NASDAQ: MERR) is a financial services firm focused on fast-growing companies and the institutions that invest in them. The company offers high-quality investment banking, equity research, institutional services and corporate & venture services, and specializes in five growth industry sectors: CleanTech; Consumer, Media & Internet; Health Care; Natural Resources and Technology. For more information, please go to www.mcfco.com.
Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of the Company.
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