RESEARCH TRIANGLE PARK, N.C. – Adherex Technologies, which is developing a number of oncology drugs, is hoping to raise as much as $25 million in a stock sale.

Adherex (AMEX: ADH) has sold more than 30 million shares at a price of 33 cents each to Versant Partners, raising approximately $10 million. The company also is offering an additional 45.5 million shares at the same price.

Funds will be used for research and development as well as a $1 million upfront fee to acquire a drug from GlaxoSmithKline known as eniluracil.