Navigation Links
PROLOR Biotech Announces $10 Million Preferred Stock Line From Members of The Frost Group
Date:7/24/2009

NES-ZIONA, Israel, July 24 /PRNewswire-FirstCall/ -- PROLOR Biotech, Inc. (OTC Bulletin Board: PBTH), formerly Modigene Inc., today announced that it has entered into stock purchase agreements with private investors to sell up to $10 million of the company's newly issued 10% cumulative convertible preferred stock at a price of $2.00 per share. As part of the agreements, the company closed on the issuance of one million preferred shares for proceeds of $2 million. The preferred stock investors include members of The Frost Group, LLC, including Dr. Phillip Frost, who is also the chairman of the board of PROLOR, and two other PROLOR directors, Dr. Jane Hsiao and Steven Rubin. In conjunction with this new agreement, PROLOR's existing line of credit agreement with The Frost Group has been terminated.

"After working closely with the PROLOR team as chairman over the past two years, I am very pleased to be expanding my investment in the company at this exciting time in its development, together with other members of The Frost Group," said Dr. Frost. "I look forward to continuing to work with the board and management to help build PROLOR into a significant player in the therapeutic proteins market."

The stock purchase agreement allows PROLOR at its sole discretion to issue up to an additional $8 million of preferred shares in one or more closings at any time before March 25, 2013. Shares issued pursuant to the agreement, including the shares of PROLOR's common stock into which the preferred shares may be converted, have not been and will not be registered under applicable securities laws and are therefore restricted securities - PROLOR has not granted any registration rights under the stock purchase agreement. Additionally, all shares acquired by the investors under this agreement are subject to a one-year lock-up. The stock purchase agre
'/>"/>

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

Page: 1 2 3 4

Related biology technology :

1. PROLOR Biotech Awarded Two U.S. Patents for Its Longer-Acting Human Growth Hormone and Longer-Acting Erythropoietin
2. Spherix Shareholders Support Companys Focus on Naturlose, Biotechnology
3. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
4. ISI Increases West Coast Life Science and Biotech Support for Emerging Companies with Expansion in San Francisco and San Diego
5. Amyris Biotechnologies Co-Founder Neil Renninger Named to Technology Reviews Prestigious TR35 List of Top Young Innovators
6. Finkelstein Thompson LLP Announces GPC Biotech AG Investigation
7. Operon Biotechnologies and DNA2.0 Announce Co-Marketing and Technology Development Partnership
8. Clinical Data Acquires Epidauros Biotechnologie AG, Significantly Enhancing Proprietary Genetic Biomarker Portfolio
9. Microchip Biotechnologies, Inc. Secures Exclusive License to Use New University of Alberta Technology for Developing Microfluidic Devices
10. Shareholder Class Action Filed Against GPC Biotech AG by the Law Firm of Schiffrin Barroway Topaz & Kessler, LLP
11. Favrille CEO to Present at NewsMakers in the Biotech Industry Investment Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/14/2014)... Communications, a leading provider of strategic communications services to corporations and ... the United States and Europe ... JD, is returning to the firm,s Washington, D.C. ... more than two years of service as Associate Commissioner for the ...
(Date:1/14/2014)... 2014 The largest international professional organization of ... therapeutic derivatives thereof has endorsed an educational program ... the challenges of adulterated herb and botanical products. ... The Society for Medicinal Plant and Natural ...
(Date:1/14/2014)... (PRWEB) January 14, 2014 In recent ... motives and methods in product development and promotion has ... industry. This mistrust, fueled by concerns about the insidious ... by reports of spectacular fines to the world’s biggest ...
(Date:1/14/2014)... Ontario , Jan. 14, 2014   Kinaxis ®, provider ... SCM ) and sales and operations planning ( S&OP ) ... Biomanufacturing Summit , which will be held at the ... the conference, join Kinaxis customer Elisabeth Kaszas , Director ...
Breaking Biology Technology:Former FDA Associate Commissioner Returns To 3D Communications 2World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 2World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 3World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 4World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 5World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 6World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 7World's Largest Group of Medicinal Plant Researchers Endorses ABC-AHP-NCNPR Botanical Adulterants Program 8The Sunshine Act: Necessary Regulation or Unnecessary Dysregulation? New Life Science Webinar Hosted by Xtalks and IRB Services 2The Sunshine Act: Necessary Regulation or Unnecessary Dysregulation? New Life Science Webinar Hosted by Xtalks and IRB Services 3Event Alert: Kinaxis Customer to Present at the Biomanufacturing Summit "Supply Chain: Improving Network Effectiveness" 2
... Multiple births can be avoidedATLANTA, Jan. 30 For the ... to seek help after this week,s birth of octuplets ... births can be prevented with today,s advanced technologies."Infertility affects ... desiring to be pregnant to do is shy away ...
... Basic Sciences award in this inaugural edition of the ... by physicists Peter Zoller (Austria, 1952) and Ignacio Cirac ... science", in the words of the jury chaired by ... Cirac,s research is opening up vital new avenues for ...
... RANCHO CORDOVA, Calif., Jan. 29 ThermoGenesis,Corp. (Nasdaq: ... that process,and store adult stem cells, announced today it ... December 31, 2008, on Wednesday, February,4, 2009. , ... Management will host a conference ...
Cached Biology Technology:You Want To Have a Baby...But Not Eight 2Peter Zoller and Ignacio Cirac, awarded by the BBVA Foundation 2ThermoGenesis Corp. to Announce Second Quarter Fiscal 2009 Results on February 4, 2009 2
(Date:7/9/2014)... in the bladders of healthy women differ from ... incontinence, according to researchers from Loyola University Chicago ... published July 9, 2014, in the American Society ... that bacterial communities may play a role in ... is a common, yet poorly understood, condition with ...
(Date:7/9/2014)... Indiana state parks have helped restore the health of ... populations of white-tailed deer, a Purdue study shows. , ... of forest ecology, found that a 17-year-long Indiana Department ... parks has successfully spurred the regrowth of native tree ... , Jenkins said that while hunting may be ...
(Date:7/9/2014)... Sexual selection refers to species, selection for traits ... type of natural selection enhances opportunities to mate, the ... Biologists at the University of California, Riverside have now ... of a placenta are linked. Describing the life ... the family Poeciliidae, the researchers found that species with ...
Breaking Biology News(10 mins):Hunting gives deer-damaged forests in state parks a shot at recovery 2Biologists link sexual selection and placenta formation 2Biologists link sexual selection and placenta formation 3Biologists link sexual selection and placenta formation 4
... , NEW YORK, July 16, 2011 Experts from ... Langone Medical Center will present new research at the ... be held in Paris, France from July 16 ... mild cognitive impairment in retired football players, with Stella ...
... Ore. Nerve cells in the eye require vitamin C ... may mean vitamin C is required elsewhere in the brain ... at Oregon Health & Science University recently published in the ... retina need to be ,bathed, in relatively high doses of ...
... at Mount Sinai School of Medicine have found that ... or delay the progression of Alzheimer,s disease. The research, ... Family Professor in Neurology, and Professor of Psychiatry and ... Medicine, was published online in the current issue of ...
Cached Biology News:NYU Langone Medical Center's tip sheet to the 2011 Alzheimer's Association International Conference 2NYU Langone Medical Center's tip sheet to the 2011 Alzheimer's Association International Conference 3NYU Langone Medical Center's tip sheet to the 2011 Alzheimer's Association International Conference 4NYU Langone Medical Center's tip sheet to the 2011 Alzheimer's Association International Conference 5NYU Langone Medical Center's tip sheet to the 2011 Alzheimer's Association International Conference 6OHSU scientists discover new role for vitamin C in the eye -- and the brain 2Natural chemical found in grapes may protect against Alzheimer's disease 2
...
... Ribonuclease III (RNase III) from E. coli ... RNA (dsRNA) to dsRNA fragments that have ... results in dsRNA fragments of 12-15 bp. ... composed of canonical ribonucleotides as well as ...
Rabbit polyclonal to Peptide E ( Abpromise for all tested applications)....
Mouse monoclonal [6911] to E. coli K99 pilus ( Abpromise for all tested applications)....
Biology Products: