By Lisa Kerner
Charlotte, N.C., June 14 - Danube Pharmaceuticals, Inc. said it completed a $10 million private placement of series A convertible preferred stock.
The proceeds will be used to fund further development of the company's lead compound, DNB-001, a novel oral therapy for the treatment of glaucoma.
Riverbank Capital Securities, Inc. acted as placement agent.
Danube is a privately held biopharmaceutical company based in New York City.
| Issuer: | Danube Pharmaceuticals, Inc.
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| Issue: | Series A convertible preferred stock
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| Amount: | $10 million
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| Placement agent: | Riverbank Capital Securities, Inc.
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| Announcement date: | June 14
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