Innovive completes $13.5M placement
New York, USA-based biopharmaceutical firm Innovive Pharmaceuticals says that it has completed a series A convertible stock private placement offering, worth around $13.5 million. The firm added that it would use the proceeds to fund its R&D, licensing and corporate activities.
Innovive said that the placement, which was led by Paramount BioCapital, with Punk, Ziegel & Co serving as co-placement agent, attracted a series of institutional investors. Steven Kelly, president of the firm, said that the funding would allow the company to continue the clinical development of its portfolio of cancer therapeutics.
Active oncology drug pipeline
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