Columbia Laboratories raises $12.9 million in private placement.MIAMI--(BUSINESS WIRE)--March 12, 1996--Columbia Laboratories, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. : COB) today announced that it has raised $12.9 million in a private placement of 1.35 million shares of common stock. The financing was with a limited group of institutional and other accredited investors Accredited Investor A term used by the Securities and Exchange Commission (SEC) under Regulation D to refer to investors who are financially sophisticated and have a reduced need for the protection provided by certain government filings. Also known as "qualified purchaser". through Allen & Company, Inc. as the placement agent. The $12.9 million gives Columbia capital for potential acquisitions of products and technology, clinical studies and working capital. "We are pleased to have strengthened Columbia's cash position which will enable us to explore new technologies," stated Nicholas A. Buoniconti, Vice Chairman and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Columbia. Columbia Laboratories, Inc. is a U.S.-based international pharmaceutical company, dedicated to the development of women's prescription and over-the-counter products, including those which help prevent sexually transmitted diseases Sexually transmitted diseases Infections that are acquired and transmitted by sexual contact. Although virtually any infection may be transmitted during intimate contact, the term sexually transmitted disease is restricted to conditions that are largely . Columbia's products primarily utilize the Company's patented bioadhesive delivery technology. CONTACT: Columbia Laboratories, Inc. Margaret M. Roell, 305/860-1692 or Burns McClellan, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Karen Bergman (Media) Reagan Codner (Investors) 212/505-1919 |
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