Life Sciences, Eye Disease, deals

Optherion Sells $5M in Convertible Notes and Warrants

Ryan McBride 9/17/09

Optherion, a New Haven, CT-based developer of diagnostics an drugs for eye and kidney diseases, has raised $5 million in a planned $9.5 million convertible notes and warrants offering, according to an SEC filing. The company writes in the filing that the notes and warrants can be converted into capital stock under certain conditions. Colin Foster, president and CEO of Optherion, was not immediately available for comment this morning. Optherion turned heads when it announced a $37 million Series A round of financing in October 2007 to develop a treatment for age-related macular degeneration.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.