Altor BioScience Corp. and its investors have structured a financing
strategy that keeps the company eligible for Small Business Innovation Research
grants, thus reducing dilutive equity funding. Investors hope last week's $10.3
million series D round will be the last the company needs.
Altor has raised $32 million
through the sale of equity and about $10 million in grants, with another $4
million in pending awards, since spinning off from Sunol Molecular
Corp. in 2002. The company