Monday, March 5, 2007

Alacrity Biosciences Raises $8.45M In Debt

Laguna Hills-based Alacrity Biosciences announced today that it has raised $8.45M in a private financing. Investors in the company were not disclosed, however the funding took the form of a convertible note. Paramount BioCapital was the placement agent in the deal. The firm said the funding will go towards development of the firm's treatments for opthalmic diseases.