Corautus Genetics raises $23M to fund new trials

Atlanta-based Corautus Genetics will raise $23 million through a combined stock sale and new loan pact. Company CEO Richard Otto says the new financing will make Boston Scientific its biggest voting shareholder. "Very importantly," Otto said, "with funds from these transactions, we expect to have sufficient cash to fund our projected operations through 2006, including expenditures related to the GENASIS trial, the manufacturing costs for VEGF-2 for a Phase III trial, and the initial costs related to conducting a planned Phase III clinical trial."

- read this story from the Atlanta Business Chronicle for more

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