Nastech raises $4.2 million
Nastech Pharmaceutical Co has raised approximately $4.2 million in grossproceeds through a private sale of 860,000 newly-issued shares. The "select group of investors" that took part in the placement included SAFECO Growth Opportunities Fund and an asset management division of a "leading money center bank." Jesup & Lamont Securities Corporation acted as agent for Nastech.
Steven Quay, the firm's chief executive, said that with this financing, "Nastech has attracted an elite group of biomedical investors and secured additional resources to fund ongoing R&D and working capital."
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