Sydney - Wednesday - May 21: (RWE Aust Business News) - Prana
Biotechnology (ASX:PBT) has made a private placement transaction of over
$7 million from existing investors at a price of 40c a share.
Investors include both US and Australian professional and
sophisticated investors.
Chairman Geoffrey Kempler said the funds will allow the company
to boost R&D activities.
Funds will be used for the development of the pipeline in
treatments for Alzheimer's and other neurodegenerative diseases, such as
Parkinson's and Huntington's disease
raises 7m in placement
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