Cell Therapeutics (CTIC) has entered a financing agreement with Societe Generale Group for the French bank to buy $55M new shares to trade on the Italian stock exchange.
Societe Generale Group will have the option to purchase an additional $17M over the next 24 months.
CTIC is a biotechnology company that develops drugs to combat cancer and related conditions. It’s flagship product, XYOTAX, is undergoing trails for approval and sale.
Source: The Associated Press
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