Momenta Raises $24.1M From Select Investors

Luke Timmerman12/12/08

Momenta Pharmaceuticals, the Cambridge, MA-based developer of generic versions of complex drugs, said today it has received commitments from investors to bet another $24.1 million on the company. The investors are buying 2.8 million shares at $9 a share. The money will be used for manufacturing, clinical trial costs, and potential acquisitions of companies and technologies, the company said.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.