BioCentury
ARTICLE | Financial News

Intra-Cellular raises $60M

September 4, 2013 12:39 AM UTC

Neurology company Intra-Cellular Therapies Inc. (New York, N.Y.) raised about $60 million and then reverse-merged with a publicly listed shell company. Intra-Cellular raised about $44.7 million through the sale of about 18.9 million shares in a private placement with new institutional investors including Deerfield Management and Broadfin Capital as well as existing investors. Intra-Cellular also raised about $15.3 million through the conversion of bridge notes. Leerink was placement agent. Intra-Cellular said it plans to list on an OTC market but declined to disclose details. ...