Clinical Data Raises $50M in Convertible Debt Offering | GenomeWeb

NEW YORK (GenomeWeb News) – Clinical Data today said that it has completed a $50 million convertible debt financing with New River Management V and another affiliate of Randal J. Kirk, chairman of Clinical Data's board of directors.

The Newton, Mass.-based firm, which makes pharmacogenetic tests and is developing therapeutics, said that the funds would be used primarily to support late-stage therapeutics development. It has two compounds in Phase III studies: vilazodone for treating depression, and Stedivaze, a cardiac stress agent.

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