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ChondroGene Raises $500,000 in Private Placement

NEW YORK, Sept. 13 (GenomeWeb News) - ChondroGene of Toronto has raised $500,000 in a private placement in Canada, bringing the total of this financing round to $5.5 million, the company said today.


Last month, ChondroGene raised $5 million in a private placement in the US under the same terms, $.95 per common share.


The funding will provide the company with operating capital into 2006. ChondroGene, which develops disease-specific biomarkers, plans to advance its technology into areas outside of osteoarthritis, such as cancer and neurological disorders.

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