Peptide firm Diatide scores financing

Peptide-based radiopharmaceutical Diatide of Londonderry, NH, raised $11.8 million last month through a placement of preferred stock to existing investors. The preferred stock is convertible into 1.2 million shares of Diatide common stock. Diatide executives said the funds would be used for intermediate-term financing needs, to move its late-stage products toward commercialization, and to increase R&D in the area of therapeutic agents.