Thursday, April 6, 2006

Tapestry Raises $25.5M In PIPE

Boulder, Colorado-based Tapestry Pharmaceuticals has raised $25.5M in a private placement, the firm said todsay. It said it sold 12.75 million shares of its common stock, along with an equal number of warrants, to Special Situations Funds, Tang Capital Partners, LP, and Baker Brothers Investments along with Biotechnology Value Fund, L.P., Fort Mason Partners, L.P., Heights Capital Management, Merlin BioMed Long Term Appreciation, LP, Versant Capital Management LLC, and Xmark Funds. Investment banks involved in the transaction were Ferghana Securities and Reedland Capital Partners.