Angiotech raises $93.6 million

Angiotech (ANPI; TSE:ANP) raised C$137.8 million (US$93.6 million) in a follow-on of 1.75 million shares at C$78.77 (US$53.50). The offering is the seventh largest Canadian biotech financing in history. ANPI's clinical pipeline includes systemic micellar paclitaxel in Phase II trials for secondary progressive multiple sclerosis and in Phase I for rheumatoid arthritis, and topical paclitaxel gel in Phase I and Phase I/II for psoriasis. The company's paclitaxel-coated stent also is in the clinic. ...