Radius Health receives $22M, seeks public listing
Radius Health Inc. (Cambridge, Mass.) received $22 million in the first tranche of a committed $66 million private round and reverse-merged with unlisted public shell company MPM Acquisition Corp. (Boston, Mass.). The surviving company will retain Radius' name and plans to list on the OTCBB exchange.
New investors BB Biotech AG; Brookside Capital; Saints Capital; Nordic Bioscience A/S (Herlev, Denmark); and Ipsen Group (Euronext:IPN) joined existing investors MPM Capital; BB Biotech Ventures; MPM Bio IV NVS fund; Wellcome Trust; HealthCare Ventures; and Scottish Widows Investment Partnership in the equity financing. Radius also received $6.25 million in the first tranche of a $25 million loan facility from GE Capital and Oxford Finance. ...