IrelandIreland

Irish Amarin announces 70 million-dollar placement

14.10.2009

Dublin – Amarin Corporation plc today announced it has entered into an agreement with a number of investors for a $70 million private placement. The placement of units for $70 million consists of $66.4 million in cash proceeds and $3.6 million from the conversion of convertible bridge notes. In consideration for the $66.4 million cash payment, Amarin will issue 66.4 million units. Each unit has a purchase price of $1.00 and consists of one American Depositary Share and a warrant for the purchase of 0.50 of an ADS. The warrants will have a five year term and an exercise price of $1.50 per ADS. In consideration for the conversion of the principal amount of $3.6 million of convertible bridge notes, Amarin will issue 4 million units. In accordance with the terms of the conversion of the bridge notes, each unit has a purchase price of $0.90 and consists of one ADS and a warrant for the purchase of 0.50 of an ADS. The warrants will also have a five-year term and an exercise price of $1.50 per ADS.
The company has said it will use the money to progress phase III testing through to an NDA filing of its prescription-grade omega-3 fatty acid drug AMR101 (a ethyl ester of eicosapentaenoic acid) in patients with hyperglyceridemia and mixed dyslipidemia. The funding will also be used for the retirement of $1.9 million in bridge financing and for general corporate purposes.





IrelandIreland

20.03.2012

While on a trip to strengthen economic ties between Ireland and California, Ireland's minister for jobs, enterprise and innovation, Richard Bruton, revealed on 15 March that two Irish government organisations have provided...

IrelandIreland

16.03.2012

Dublin – Irish drugmaker Shire plc has agreed to pay US-$100m in upfront for Ferrokin Biosciences Inc., a San Francisco-based specialist for iron chelation therapies. US-$225m could be added if certain milestones are achieved....

IrelandIreland

07.03.2012

Abbott Laboratories is to spend a85m and expand its pharmaceutical manu­facturing facility in Sligo (Ireland), saying that would help the company to ensure its supply of compounds in bio­pharmaceutical areas like virology and...

IrelandIreland

24.01.2012

Weston/Dublin - The focus for Tysabri, the MS drug jointly developed by Irish Elan and US-Biogen, has become a little more accurate. The US Food and Drug Administration (FDA) stated that the occurrence of antibodies against the...

IrelandIreland

13.12.2011

Dublin/Cambridge – The University of Cambridge and Irish drugmaker Elan Pharmaceutical Inc. have joined forces in the battle against Alzheimer’s Disease. Together, the two will create the Cambridge-Elan Centre for Research...

IrelandIreland

07.12.2011

Uppsala/Craigavon - Irish Almac trusts a Swedish platform to develop new cancer drug candidates. As Uppsala-based Beactica announced on Tuesday, its Sprint-technology will be used to identify fragment hits against a number of...

IrelandIreland

05.12.2011

Dublin /New York – Irish Tibotec Pharmaceutical Ltd and Bristol-Myers Squibb (BMS) have entered into a clinical collaboration for the treatment of chronic hepatitis C infections with a combination of BMS’ NS5A replication complex...

IrelandIreland

01.10.2011

Athlone – Biopharma group Alkermes has established its new Irish corporate base following its merger with Elan Drug Tech­nologies. The a712m (US$960m) deal agreed back in May – which saw Alkermes acquire Elan’s Athlone-based drug...

Displaying results 1 to 10 out of 49

1-10 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/news/messages-archive/archive-ireland/article/irish-amarin-announces-70-million-dollar-placement.html

Events

All Events

Stock list

All quotes

TOP

  • SANTHERA98.35 CHF13.70%
  • EPIGENOMICS3.37 EUR6.65%
  • FORMYCON6.85 EUR1.48%

FLOP

  • MOLOGEN7.38 EUR-5.87%
  • EVOTEC3.74 EUR-5.08%
  • CYTOS0.25 CHF-3.85%

TOP

  • SANTHERA98.35 CHF53.7%
  • BB BIOTECH141.00 EUR6.3%
  • ADDEX3.98 CHF4.2%

FLOP

  • WILEX2.25 EUR-24.7%
  • MOLOGEN7.38 EUR-18.8%
  • 4SC1.22 EUR-15.9%

TOP

  • SANTHERA98.35 CHF4121.0%
  • CO.DON2.48 EUR210.0%
  • PAION2.43 EUR179.3%

FLOP

  • CYTOS0.25 CHF-93.6%
  • MEDIGENE4.55 EUR-67.9%
  • THERAMETRICS0.08 CHF-42.9%

No liability assumed, Date: 28.08.2014


Current issue

All issues

Product of the week

Products