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PolyMedix raises $15M for heart, infection drugs

Drug developer PolyMedix Inc., Radnor, raises $15M in private stock and warrant sale with help from Emerging Growth Equities, KofP.

    by Joseph N. DiStefano
    Published 

» READ MORE: PolyMedix

Inc., Radnor, which is developing drugs that fight infections (PMX-30063) and heart disease (PM-60056), says it raised $15 million from a stock and warrant sale through brokers Emerging Growth Equities, King of Prussia, and Fordham Financial and Carter Securities, both of New York.

That's on top of $31 million in earlier capital raising, said ceo Nicholas Landekic ina statement. The shares sold to "institutioanl funds and accredited investors" at 70 cents each; the warrants are exercizable at $1 until 2013.