Kate Prahlad, The Examiner
2007-04-24 07:00:00.0
Current rank: Not ranked

GERMANTOWN, Md. -

Advancis Pharmaceutical Co., a Germantown-based company that develops and commercializes anti-infective products, closed its previously announced private placement of common stock and warrants, resulting in $24 million of gross proceeds.

The company plans to use the proceeds to support the regulatory approval process of its Amoxicillin PULSYS product candidate, as well as for working capital purposes, a brief said.