Cytogen secures financing package

April 12, 1995

Monoclonal antibody developer Cytogen last month entered into a financing deal with Nomura SecuritiesInternational. Under the agreement, Cytogen, of Princeton, NJ,could sell up to $49 million of its common stock to Nomura fordistribution in public

Monoclonal antibody developer Cytogen last month entered into a financing deal with Nomura SecuritiesInternational. Under the agreement, Cytogen, of Princeton, NJ,could sell up to $49 million of its common stock to Nomura fordistribution in public markets. The sales will be made in a seriesof transactions over the next two years. Cytogen will use thefinancing to pursue strategic alliances and broaden its productpipeline, according to Thomas McKearn, Cytogen president and CEO.

Also last month, Cytogen announced that the Food and Drug Administrationhas accepted its product license application (PLA) for ProstaScint,a monoclonal antibody-based imaging agent for detection of prostatecancer (SCAN 2/1/95).