Santhera raises $13.7 million

Santhera (SWX:SANN) raised CHF15.9 million ($13.7 million) in a private placement of 370,000 shares at CHF43. The deal price is a 7% discount to Santhera's close of CHF46 on Wednesday, before the deal was announced. Ares Life Sciences, an investment vehicle established by the Bertarelli family, was the lone investor. It is Ares' first investment in biotech since the fund's launch this year. Merrill Lynch and Bank Vontobel advised Santhera, while Piper Jaffray advised Ares. ...