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AmpliPhi BioSciences has lined up $13 million in private placement cash, selling stock and warrants to fund its pipeline of treatments for drug-resistant bacterial infections.
The Richmond, VA, biotech is issuing nearly 79 million shares at $0.165 apiece to a group of investors including partner Intrexon ($XON), expecting to net about $12.2 million when the private placement closes next week.
With the proceeds, AmpliPhi will advance its trio of candidates that use naturally occurring viruses to...