Posted Sep. 8, 2009 at 12:59 p.m.
Durham-based Oxygen Biotherapeutics achieves milestone for $6M stock buy
Post a comment
Print this blog postE-mail blog post
Share
Get the latest news alerts: Follow LTW at Twitter.
Local Tech Wire
DURHAM, N.C. – Achieving a clinical trial for a brain injury treatment has triggered a $6 million milestone investment for Oxygen Biotherapeutics.
The company, which trades its stock over the counter under the symbol OXBO, has a contractual agreement with Vatea Fund pegged to the milestone. The agreement stipulates that Vatea buy 24 million shares of Oxygen Biotherapeutics by Dec. 10 for $6 million.
Oxygen Therapeutics is focused on oxygen-based therapeutics. Its “Oxycyte in Traumatic Brain Injury” has been accepted for a Phase II clinical trial in Switzerland. The acceptance was announced Aug. 14.
Featured
Hot Off The Wire
- Red Hat's new Fedora lead; Cree LED breakthrough; Google, Cisco top 'green' list; Oracle rejects SAP settlement; Yahoo board shakeup
- Will Cisco report progress in its turnaround efforts?
- Cisco server fire threat; Lenovo Android upgrade; cloud startup vs. Cisco; Epic's Blesinski to host awards; Google 'Solve for X'
E-mail Preferences
The Skinny
- Epic Games' Tim Sweeney reaps arts Hall of Fame honor today
- Charlotte's startup efforts pick up steam as more data pours in
- 'Battle in Bay 7' returns - Are you techies ready for some basketball?
- Inside RTP's new angel fund: Founders meeting 'significant' need
- Who won 'Social Bowl'? Super Bowl ads paying fans to play
- RTP broadband firm Overture, minus two top execs, launches new look
- Will RTP-based ChannelAdvisor go public? They're thinking
- What brands are winning Super Bowl hype? Two Durham firms to find out
- In Super Bowl of social media, Patriots win, Triangle firm says
- Big job cuts coming at IBM? Don't be surprised