Trimeris Inc. (Nasdaq: TRMS) of Durham recently raised about $102.4 million through a public offering of 2,400,000 shares of common stock.
Net proceeds from the offering will be used to fund the clinical development and commercialization of Trimeris' anti-HIV drug candidates, Fuzeon[TM] and T- 1249, and for overall research and development, working capital and general corporate purposes.
The offering was conducted by a group of underwriters led by New York-based Morgan Stanley & Co. Inc. and Goldman, Sachs & Co. The co-managers were Lehman Brothers Inc. of New York and Banc of America Securities LLC of San Francisco.
In related news, Trimeris and Roche of Nutley, N.J., announced recently that their New Drug Application (NDA) for Fuzeon[TM] has been granted priority review status by the U.S. Food and Drug Administration (FDA). Priority designation is granted to medications that, if approved, address unmet medical needs, offering a significant improvement in the safety or effectiveness of the treatment, diagnosis or prevention of a serious or life-threatening disease.
The priority review designation establishes a target six-month review period for the Fuzeon[TM] NDA, which was submitted by Roche and Trimeris in September 2002.
Fuzeon[TM], a fusion inhibitor drug, is designed for the treatment of HIV-1 in combination with other antiretroviral agents.
For more information visit the company Web site at www.trimeris.com.
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