Gentium completes $47.5M private placement
Italian drugmaker Gentium SpA has completed its $47.5 million private placement of 2,354,000 of its American Depository Shares at a price of $20.17 each. The firm noted that investors participating in the financing were large US and Italian institutional investors, noting that ThinkEquity Partners LLC acted as the exclusive placement agent.
The net proceeds from the offering will mainly be used to fund the continued development of the company's product candidates as well as for the repurchase of certain marketing rights to the veno-occulsive disease treatment Defibrotide from Crinos SpA (Marketletter January 15).
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