Epix Secures $50 Million Capital Commitment

8/5/08Follow @xconomy

Epix Pharmaceuticals, the Lexington, MA-based developer of an experimental drug for Alzheimer’s disease, said today that Kingsbridge Capital has committed to provide as much as $50 million of capital over the next three years through buying new shares. The actual amount raised by the company (NASDAQ: EPIX) will depend on the number of shares it sells and the market value of Epix stock at the time of the purchases. Epix can sell a maximum number of 8.3 million shares under the agreement.

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