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Home > News > pSivida secures additional US$15m funding

October 6th, 2005

pSivida secures additional US$15m funding

Abstract:
Global bio-nanotech company pSivida Limited today announced that it has signed an agreement with a New York based institutional accredited investor (the "Investor") pursuant to which the Investor, subject to satisfaction of closing conditions, will purchase US$15m (AU$20m) of Subordinated Convertible Debentures convertible into PSDV American Depository Receipts ("ADR") at an initial conversion price of US$7.10 (AU$0.95 per ordinary share). The proceeds of the issuance are expected to be used for the expanded development of pSivida's platform technology, BioSilicon(TM).

Source:
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