Navigation Links
Nile Therapeutics, Inc. Completes $3.4 Million Private Placement
Date:7/16/2009

SAN FRANCISCO, July 16 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), a company focused on the development of novel therapeutics for heart failure patients, today announced that it has completed a private placement of shares of its common stock and warrants to purchase additional common stock for aggregate gross proceeds of approximately $3.4 million. Riverbank Capital Inc., a FINRA member broker dealer acted as the exclusive placement agent for the transaction.

"We are extremely pleased to have the completed this financing," said Joshua Kazam, Chief Executive Officer, "which we believe will provide us with sufficient capital to complete our Phase 2 clinical study of CD-NP in acute heart failure patients with mild to moderate renal insufficiency."

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under such act and applicable state securities laws or an applicable exemption from those registration requirements. Nile has agreed to file a registration statement covering the resale of the shares issued in the private placement, including the shares issuable upon exercise of the warrants. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at http://www.nilethera.com.

Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding the sufficiency of Nile's available capital, timing, progress and anticipated results of the clinical development, regulatory processes, clinical trial timelines, anticipated benefits of CD-NP, Nile's strategy, future operations, outlook, milestones, the timing and success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's need to raise additional capital to fund its product development programs to completion, Nile's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in greater detail in the reports Nile files with Securities and Exchange Commission, including those described under the caption "Risk Factors" in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission on March 12, 2009. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.


'/>"/>
SOURCE Nile Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Oxygen Biotherapeutics, Inc. Announces Closing of Private Placement Financing Agreement
2. Nile Therapeutics, Inc. To Raise $3.4 Million in Private Placement
3. Intarcia Therapeutics, Inc. Presents ITCA 650 Phase 1b Study Results as a Late-Breaker at the American Diabetes Association 69th Scientific Sessions
4. Intarcia Therapeutics, Inc. Announces Acceptance of ITCA 650 Phase 1b Study for Late-Breaker Presentation at the American Diabetes Association 69th Scientific Sessions
5. Prospect Therapeutics, Inc.s GCS-100 Inhibited Blood Vessel Formation in a Variety of Cancer Models
6. Cell Therapeutics, Inc. (CTI) to Present at 2009 BIO International Convention
7. Prospect Therapeutics, Inc. Assigns All Its Assets to Joseph F. Finn, Jr., C.P.A. for the Benefit of Its Creditors
8. Cell Therapeutics, Inc. (CTI) to Report 2009 First Quarter Financial Results on May 7
9. Oxygen Biotherapeutics, Inc. Signs Supply Agreement for Clinical-Grade Oxycyte for Clinical Trials and Future Needs
10. Cell Therapeutics, Inc. Announces Single Institutional Investor Purchases $15 Million of Preferred Stock
11. Oxygen Biotherapeutics, Inc. CEO Posts New Blog Entry
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/11/2016)... Germany and GERMANTOWN, Maryland ... ; Frankfurt Prime Standard: QIA) today announced the introduction ... for gene expression profiling, expanding QIAGEN,s portfolio of Sample ... enable researchers to select from over 20,000 human genes ... interactions between genes, cellular phenotypes and disease processes. ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... focused on the development and manufacture of biopharmaceuticals and therapeutics, announces an ... the 2016 BioProcess International Awards – Recognizing Excellence in the People, Organizations ...
(Date:2/11/2016)... ... February 11, 2016 , ... ... than 150 years, continues today to pursue the highest level of accuracy and ... instruments: the AR9 Refractometer and the AR5 Refractometer. Accurate, reliable and tough ...
(Date:2/10/2016)... WASHINGTON , February 10, 2016 Early-career ... , Peru , Uganda ... their life-enhancing work in health and nutrition   Indonesia ... Uganda and Yemen are ... sciences and epidemiology. They are also celebrated for mentoring young women scientists ...
Breaking Biology Technology:
(Date:1/20/2016)... --  MedNet Solutions , an innovative SaaS-based eClinical technology ... is pleased to announce the attainment of record-setting corporate ... of the company,s laser focus on (and growing international ... comprehensive, easy-to-use and highly affordable cloud-based technology platform. ... growth achievements in 2015 include: , Record ...
(Date:1/15/2016)... SAN JUAN, Puerto Rico , Jan. 15, 2016 ... forcing companies big and small to find new ways ... data driven culture. iOS and ... their device based on biometrics, transforming it into a ... can request that users swipe their fingerprint on their ...
(Date:1/11/2016)... , Jan. 11, 2016 Synaptics Incorporated ... interface solutions, today announced that its ClearPad ® ... (TDDI) products won two separate categories in the 8 ... Innovator and Best Technology Breakthrough. The Synaptics ® ... a simplified supply chain, thinner devices, brighter displays and ...
Breaking Biology News(10 mins):