Tm Bioscience Gains $5.6M in Private Debt, Stock Placement

Aug 16, 2006

NEW YORK (GenomeWeb News) — Tm Bioscience said yesterday that it has completed a private placement of unsecured subordinated debt and common share purchase warrants worth CA$6.24 million ($5.6 million)

The placement comes one day after the firm announced its second quarter financial results.

Tm said it will use the proceeds to develop genetic tests and for general working capital purposes.

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