Monday, May 3, 2010

ADVENTRX Pharmaceuticals Gets $19.2M

San Diego-based ADVENTRX Pharmaceuticals, a publicly held developer of cancer treatments, said today that it is in a private placement where it will receive $19.2M in a Series F convertible preferred stock round. Source of the new funding was not disclosed. The firm said the funding will go towards acquiring and developing additional product candidates, to continue development of its current lead product candidates, and for general corporate purposes. Rodman & Renshaw was the placement agent on the deal, and Caris & Company Inc. was the financial advisor.