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« Regeneron and AstraZeneca Enter into License Agreement | Main | Sifting through the Wreckage: WSJ Article Highlights a Drug Development Strategy Utilized by Some Smaller R&D Firms »

February 06, 2007

Cell Genesys Secures $75M CEFF from Kingsbridge Capital Ltd.

    By Christopher P. Singer --

Cell Genesys In a February 5, 2007 press release Cell Genesys announced that it has secured a Committed Equity Financing Facility (CEFF) of up to $75 million with institutional investor Kingsbridge Capital Limited.  The financing will derive from the sale of newly issued common shares of stock from Cell Genesys to Kingsbridge over the next three years.  During the term of the agreement Kingsbridge cannot short Cell Genesys stock.  Some additional details regarding this CEFF are provided at the link above.

According to the press release, this is the second CEFF between the parties, with funds from the first CEFF helping to advance Cell Genesys' GVAX® prostate immunotherapy into Phase 3 clinical trials.  For more information about Cell Genesys' clinical pipeline and development see this link.

Posted at 03:21 PM in Biotech/Pharma Business |

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