Financings in Brief: Hemasure
This article was originally published in The Gray Sheet
Executive Summary
Hemasure: Files registration statement with the Securities and Exchange Commission for a proposed $28 mil. offering of 2.5 mil. shares of common stock. Smith Barney and Volpe, Welty & Co are managing the offering. Proceeds are expected to be used for marketing and manufacturing of the Marlborough, Massachusetts-based firm's LeukoNet pre-storage leukoreduction filtration system, cleared by FDA in June ("The Gray Sheet" Jan. 9, In Brief). Hemasure says funds also are tabbed for "conducting preclinical and clinical trials of its SteriPath blood pathogen inactivation system," R&D and "regulatory approvals for other planned products," and for general corporate purposes and working capital...