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ChondroGene Raises $5 million in Private Placement

NEW YORK, Aug. 26 (GenomeWeb News) - Toronto-based ChondroGene announced that it has raised US$5 million in a private placement of 5,263,149 common shares priced at US$.95 per share.

 

The firm, which trades on the TSX Venture Exchange, is applying functional genomics to the development of biomarkers for diagnostic and therapeutic purposes.

 

Rodman & Renshaw managed the placement and received $300,000 on the gross proceeds. It also received a warrant entitling the firm to acquire 315,790 shares of ChondroGene at US$.95 per share.

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