Pharma enters into definitive agreements for $24M private placement of common stock and warrants A.

Pharma, Inc. , a specialty pharmaceutical business, today announced that it has entered into definitive agreements with particular new and existing accredited investors providing for an exclusive placement of common share and warrants where the Company can receive $24 million in gross proceeds. The common share and warrants are for sale in units at a price of $0.15 per unit. Each unit includes one talk about of common stock and one warrant to purchase 0.5 additional shares of common stock at a price of $0.18 per talk about. The transaction is likely to close on or about July 1, 2011, at the mercy of customary closing circumstances. ‘We think that this financing provides the resources essential to perform the actions had a need to resubmit our New Medication Program for APF530 in the first half of 2012 also to fund our procedures beyond the expected U.S.Announced that they have entered into a special agreement by today which Salix has licensed rights in the United Canada and Says to an extended intestinal launch formulation of rifaximin for gastrointestinal and respiratory indications, including Crohn’s disease. The EIR formulation of rifaximin has been designed to release the active drug pursuing passage through the belly and offer a homogeneous distribution of rifaximin in the digestive tract. The EIR formulation of rifaximin was designed to provide an efficient delivery of rifaximin and you will be studied because of its potential to focus on difficult to treat diseases of the digestive tract such as Crohn’s disease.