RestorGenex raises $35.6 million

RestorGenex Corp. (OTCQB:RESX) raised $35.6 million through the sale of 8.9 million units at $4 in a private placement to institutional investors, including Ally Bridge Group, and accredited investors. Each unit comprises a share and a four-year warrant to purchase 0.3 shares, with each whole warrant exercisable at $4.80. Maxim Group was the placement agent. RestorGenex was formed earlier this year through the merger of Paloma Pharmaceuticals Inc. and VasculoMedics Inc. to focus on dermatology, ocular diseases and women's health. RestorGenex's P529, a dual inhibitor of CREB regulated transcription coactivator 1 ( CRTC1; TORC1) and TORC2, has completed Phase I testing to treat age-related macular degeneration (AMD). ...