EPIX, Kingsbridge end $50 million equity financing facility agreement

By Devika Patel

Knoxville, Tenn., July 10 - EPIX Pharmaceuticals, Inc. terminated a $50 million equity financing facility agreement with Kingsbridge Capital Ltd. on July 10, according to an 8-K filed Friday with the Securities and Exchange Commission.

The three-year agreement was negotiated on Aug. 4.

The company's common stock was delisted from the Nasdaq Capital Market on May 14. Prior to this, the company conducted one drawdown under the facility, in September 2008, in which it sold 94,627 shares for $113,750 to Kingsbridge.

Lexington, Mass.-based EPIX is a biopharmaceutical company.

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