IsoRay Medical raises $7.3 million in private placement

By Sheri Kasprzak

New York, Feb. 15 - IsoRay Medical, Inc. said it completed a private placement for $7.3 million.

The offering includes a $6 million offering the company closed on Jan. 30. After that deal, the company opened a new deal at a higher price for proceeds of $1.3 million to accommodate additional investor interest.

The terms of the placements could not be determined by press time Wednesday.

Also on Wednesday, the company said it signed a North American technology licensing agreement for Cesium-131, its treatment for prostate cancer with Belgium-based IBt SA.

IsoRay, based in Richland, Wash., develops treatments for prostate and other cancers.

On Wednesday, the company's stock lost $0.40 to close at $6.35 (OTCBB: ISRY).

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