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Achillion brings in $49.1mm via PIPE
01 Sep 2010
Executive Summary
Infectious disease-focused Achillion Pharmaceuticals Inc. grossed $49.2mm through the sale of 19.8mm common shares at $2.49 each (a 3% discount) to Domain Associates, Clarus Ventures, Quaker BioVentures, and Pappas Ventures. The company also issued seven-year warrants to buy another 6.9mm shares exercisable at $3.11. Achillion will use the proceeds for three hepatitis C candidates--ACH2684 and ACH2928, both in preclinical studies with NDAs planned for early next year, and ACH1625, soon to commence Phase II trials.
Deal Industry
- Biotechnology
- Pharmaceuticals
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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Achillion brings in $49.1mm via PIPE
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