Amarin completes first tranche of $60M placement

Amarin Corp says that it has closed the $30.0 million first tranche of its previously announced $60.0 million private placement. The net proceeds, after deducting the placement agents' fees and estimated offering expenses, will be around $27.0 million.

In conjunction with the financing, Amarin has appointed to its board representatives of the four largest investors in the placement. The new non-executive directors are James Healy of Sofinnova Ventures, Carl Gordon of OrbiMed Advisors, Eric Aguiar of Thomas, McNerney & Partners and Srinivas Akkaraju of Panorama Capital. Non-executive directors retiring from the Amarin board are John Groom, Simon Kukes, Prem Lachman, William Hall and Michael Walsh.