SAN MATEO, Calif., Jan. 9 /PRNewswire-FirstCall/ -- NeurogesX, Inc. (Nasdaq: NGSX), a biopharmaceutical company focused on developing novel pain management therapies, today announced that it completed a $25.0 million private placement of its common stock to support the development of its late stage portfolio of novel pain management therapies.
On December 26, 2007, the Company announced that on Sunday, December 23, 2007, it entered into a securities purchase agreement in connection with a private placement to a group of institutional accredited investors. In the closings, which occurred on December 26 and January 3, the Company received approximately $25 million in gross proceeds from the sale of 4,020,910 shares of its common stock at a purchase price of $6.18 per share, the last closing price prior to signing of NGSX common stock on the NASDAQ Global Market, and the issuance of five-year warrants to purchase 1,206,273 additional shares of NGSX common stock at an exercise price of $8.034 per share. The warrants were purchased at a price per underlying share of $0.125.
The financing was led by SV Life Sciences, a life sciences-focused
venture capital adviser and manager. SV Life Sciences advised or managed
funds invest in companies requiring funding within the human life sciences
sector including biotechnology and pharmaceuticals, medical devices and
instruments, healthcare IT and services. SV Life Sciences advises or
manages four venture capital funds and a publicly traded investment trust
with total capital of approximately $1.6 billion that invest in life
sciences companies at all stages of development. Bruce Peacock, a venture
partner at SV Life Sciences, has served as an independent director of
NeurogesX, Inc. since Aug
|SOURCE NeurogesX, Inc.|
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