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Polyplus Raises $1.8M Through Convertible Bond Issuance

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Polyplus Transfection said this week that it has raised €1.2 million ($1.8 million) through the issuance of convertible bonds to existing shareholders.

The company said the funds will primarily be used to support its RNAplus program, which is focused on developing RNAi oligos that do not require delivery reagents.

“We are delighted that all our existing shareholders have renewed their confidence in the company and its technologies,” Polyplus Chairman Gabriel Festoc said in a statement. "Thanks to this funding, we shall be able to reach a new stage in the development of Polyplus, after almost doubling our consolidated revenues to €2.6 million in 2009, and in particular to strengthen our research team for supporting our growth and investing in our key RNAplus program.”

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