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Biomira announces U.S. $16.1 million financing
Biomira announces U.S. $16.1 million financing.
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"\n\n\n\n\nEDMONTON, Jan. 27 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) today\nannounced that it has arranged a financing totaling approximately\nU.S. $16.1 million with Rodman & Renshaw, LLC of New York acting as exclusive\nplacement agent. In respect of this financing, Biomira intends to file shortly\nin Canada a prospectus supplement to its July 13, 2004 Base Shelf Prospectus\nand in the United States a prospectus supplement to its July 13, 2004 F-10\nRegistration Statement. The financing is expected to close within the next few\ndays and is subject to regulatory approval.\nThe Company will be offering up to 10,572,368 units, each unit consisting\nof one common share and 0.25 of a warrant, at an issue price of U.S. $1.52.\nEach warrant will entitle the holder thereof to purchase one common share\nat an exercise price of U.S. $2.50. The warrants will have a 42-month term,\nfrom the date the financing closes, and a no-exercise period of six months.\nDr Alex McPherson, MD, PhD President and Chief Executive Officer of\nBiomira, commented: \"We have secured important additional funding for the\nCompany at a key stage of our development. After the renegotiation of our\nlicensing agreement with Merck KGaA of Darmstadt, Germany, for our lead cancer\nvaccine L-BLP25, we are now free to focus on advancing our follow-on vaccine\nBGLP40 and to further expand our portfolio of development-stage products.\"\n\nAbout Biomira\nBiomira is a biotechnology company specializing in the development of\ninnovative therapeutic approaches to cancer management. Biomira's commitment\nto the treatment of cancer currently focuses on the development of synthetic\nvaccines and novel strategies for cancer immunotherapy.\n\nThis release may contain forward-looking statements. Various factors\ncould cause actual results to differ materially from those projected in\nforward-looking statements, including those predicting the timing, duration\nand results of clinical trials, trial reviews and analyses and regulatory\nreviews, the safety and efficacy of the product, the ability to retain\ncollaborative partners and the ability to secure and manufacture vaccine\nsupplies and the resolution of a recent manufacturing problem by an outside\nvendor of the vaccine. Although the Company believes that the forward-looking\nstatements contained herein are reasonable,...