Advanced Life Sciences Holdings, Inc. (Nasdaq: ADLS) announced that it has entered into a private placement of 10,233,464 shares at $3.53 per share for gross proceeds of $36,124,128 to certain accredited investors. The company also issued warrants to purchase approximately 5,116,732 shares at an exercise price of $3.81 per share. Dillon acted as a co-placement agent on this transaction
About Advanced Life Sciences Holdings, Inc
Advanced Life Sciences Holdings, Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of drugs in the areas of infectious disease, oncology, and inflammation. It has a worldwide license from Abbott Laboratories to develop and commercialize its lead candidate, cethromycin, a Phase III clinical development ketolide antibiotic for the treatment of respiratory tract infections. It is also developing ALS-357, a compound that shows anti-tumor activity against malignant melanoma; and ALS-886, a therapeutic in preclinical development for the treatment of inflammation-related tissue damage, including tissue damage associated with acute respiratory distress syndrome. In addition, Advanced Life Sciences Holdings develops product candidates that include compounds derived from natural products to treat infectious diseases; synthetic chemotherapeutics to treat various cancers; and small molecule inhibitors for the treatment of Alzheimer’s disease. It also has collaborations and license agreements with University of Illinois at Chicago, Baxter International, Argonne National Laboratory, and the National Institute of Allergy and Infectious Diseases
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.