ARTICLE | Financial News

Amarin raises $30 million

May 23, 2008 12:29 AM UTC

Amarin (NASDAQ:AMRN; LSE:AMRN) raised $30 million in the first tranche of its previously announced $60 million private placement. The company sold 13 million ADSs at $2.30 per ADS, which is a 13% discount to Amarin's close of $2.63 on May 13, before the deal was announced. Each ADS is equal to one ordinary share. New investors include Sofinnova Ventures; OrbiMed Advisors; Thomas, McNerney; Panorama Capital; Longitude Capital; and Fountain Healthcare Partners. Cowen and Rodman were placement agents.

Sofinnova's James Healy; OrbiMed's Carl Gordon; Thomas, McNerney's Eric Aguiar; and Panorama's Srinivas Akkaraju will join Amarin's board. ...