Navigation Links
Nile Therapeutics, Inc. Completes $3.4 Million Private Placement

SAN FRANCISCO, July 16 /PRNewswire-FirstCall/ -- Nile Therapeutics, Inc. (Nasdaq: NLTX), a company focused on the development of novel therapeutics for heart failure patients, today announced that it has completed a private placement of shares of its common stock and warrants to purchase additional common stock for aggregate gross proceeds of approximately $3.4 million. Riverbank Capital Inc., a FINRA member broker dealer acted as the exclusive placement agent for the transaction.

"We are extremely pleased to have the completed this financing," said Joshua Kazam, Chief Executive Officer, "which we believe will provide us with sufficient capital to complete our Phase 2 clinical study of CD-NP in acute heart failure patients with mild to moderate renal insufficiency."

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under such act and applicable state securities laws or an applicable exemption from those registration requirements. Nile has agreed to file a registration statement covering the resale of the shares issued in the private placement, including the shares issuable upon exercise of the warrants. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

About Nile Therapeutics

Nile Therapeutics, Inc. is a clinical-stage biopharmaceutical company that develops innovative products for the treatment of cardiovascular disease and other areas of unmet medical needs. Nile is initially focusing its efforts on developing its lead compound, CD-NP, a novel rationally designed chimeric peptide in clinical studies for the treatment of heart failure, and CU-NP, a novel rationally designed natriuretic peptide. More information on Nile can be found at

Safe Harbor Paragraph for Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding the sufficiency of Nile's available capital, timing, progress and anticipated results of the clinical development, regulatory processes, clinical trial timelines, anticipated benefits of CD-NP, Nile's strategy, future operations, outlook, milestones, the timing and success of Nile's product development, future financial position, future financial results, plans and objectives of management are forward-looking statements. Nile may not actually achieve these plans, intentions or expectations and Nile cautions investors not to place undue reliance on Nile's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements Nile makes. Various important factors that could cause actual results or events to differ materially from the forward-looking statements that Nile makes include Nile's need to raise additional capital to fund its product development programs to completion, Nile's reliance on third-party researchers to develop its product candidates, and its lack of experience in developing and commercializing pharmaceutical products. Additional risks are described in greater detail in the reports Nile files with Securities and Exchange Commission, including those described under the caption "Risk Factors" in Item 1A of its Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission on March 12, 2009. Nile is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise.

SOURCE Nile Therapeutics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Oxygen Biotherapeutics, Inc. Announces Closing of Private Placement Financing Agreement
2. Nile Therapeutics, Inc. To Raise $3.4 Million in Private Placement
3. Intarcia Therapeutics, Inc. Presents ITCA 650 Phase 1b Study Results as a Late-Breaker at the American Diabetes Association 69th Scientific Sessions
4. Intarcia Therapeutics, Inc. Announces Acceptance of ITCA 650 Phase 1b Study for Late-Breaker Presentation at the American Diabetes Association 69th Scientific Sessions
5. Prospect Therapeutics, Inc.s GCS-100 Inhibited Blood Vessel Formation in a Variety of Cancer Models
6. Cell Therapeutics, Inc. (CTI) to Present at 2009 BIO International Convention
7. Prospect Therapeutics, Inc. Assigns All Its Assets to Joseph F. Finn, Jr., C.P.A. for the Benefit of Its Creditors
8. Cell Therapeutics, Inc. (CTI) to Report 2009 First Quarter Financial Results on May 7
9. Oxygen Biotherapeutics, Inc. Signs Supply Agreement for Clinical-Grade Oxycyte for Clinical Trials and Future Needs
10. Cell Therapeutics, Inc. Announces Single Institutional Investor Purchases $15 Million of Preferred Stock
11. Oxygen Biotherapeutics, Inc. CEO Posts New Blog Entry
Post Your Comments:
(Date:11/25/2015)... ... November 25, 2015 , ... ... Organization of Black Aerospace Professionals (OPBAP) has been formalized with the signing of ... team leaders met with OPBAP leaders Capt. Karl Minter and Capt. Albert Glenn ...
(Date:11/24/2015)... Malaysia , Nov. 24, 2015  Asia-Pacific ... contract research organisation (CRO) market. The trend of ... in lower margins but higher volume share for ... capacity and scale, however, margins in the CRO ... Organisation (CRO) Market ( ), finds ...
(Date:11/24/2015)... 2015 /CNW/ - iCo Therapeutics ("iCo" or "the Company") ... for the quarter ended September 30, 2015. Amounts, ... and presented under International Financial Reporting Standards ("IFRS"). ... said Andrew Rae , President & CEO ... not only value enriching for this clinical program, ...
(Date:11/24/2015)... Inc., a worldwide provider of clinical research services headquartered in ... has set a new quarterly earnings record in Q3 of 2015.  ... Q3 of 2014 to Q3 of 2015.   ... the establishment of an Asia-Pacific office to ... and Mexico , with the establishment ...
Breaking Biology Technology:
(Date:11/10/2015)... Nov. 10, 2015 About ... that helps to identify and verify the identity ... considered as the secure and accurate method of ... a particular individual because each individual,s signature is ... especially when dynamic signature of an individual is ...
(Date:11/4/2015)... New York , November 4, 2015 ... to a new market report published by Transparency Market ... Share, Growth, Trends and Forecast 2015 - 2022", the global ... of US$ 30.3 bn by 2022. The market is ... the forecast period from 2015 to 2022. Rising security ...
(Date:10/29/2015)... , Oct. 29, 2015  The J. Craig ... report titled, "DNA Synthesis and Biosecurity: Lessons Learned and ... Department of Health and Human Services guidance for synthetic ... 2010. --> --> ... also has the potential to pose unique biosecurity threats. ...
Breaking Biology News(10 mins):