Procept Announces Private Financing.
CAMBRIDGE, Mass.--(BW HealthWire)--Dec. 10, 1997--
Private Placement To Total $10 million
Procept, Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PRCT PRCT Practice
PRCT Prospective, Randomized, Controlled Trial (medicine)
PRCT Partial Rotator Cuff Tear ) today announced that it has commenced a private offering of units of shares of Common Stock and Common Stock Warrants. The offering is intended to raise $10 million. The Company, however, has authorized its placement agent to raise up to a total of $25 million. The funds will be used to further its research, pre-clinical and clinical development programs.
Purchasers of the Common Stock Units will be entitled to certain contractual rights A contractual right is a claim, on other persons, that is acknowledged and perhaps reciprocated among the principals associated with that claim. Specialized contractual rights exist as part of a "contract" or agreement between persons to whom these rights belong. , subject to certain limitations. The Common Stock Units have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration or an applicable exemption from registration requirements.
The statements made in this press release contain certain forward-looking statements relating to relating to relate prep → concernant
relating to relate prep → bezüglich +gen, mit Bezug auf +acc future events or future financial performance of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that involve a number of risks and uncertainties, including the risk that the Company will be unable to complete the proposed private placement. Such statements are only predictions and actual events or results may differ materially.
Procept, Inc. is engaged in the research and development of small molecule therapeutics for the prevention and treatment of chronic and life-threatening immune system immune system
Cells, cell products, organs, and structures of the body involved in the detection and destruction of foreign invaders, such as bacteria, viruses, and cancer cells. Immunity is based on the system's ability to launch a defense against such invaders. disorders. Procept is developing therapeutics for the treatment of arthritis, diabetes, organ transplant rejection and infectious diseases, including AIDS and tuberculosis. Founded in 1985 and traded on the Nasdaq National Market System under the symbol PRCT, Procept is located in Cambridge, Massachusetts.
CONTACT: Procept, Inc.
Stanley C. Erck