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Medical Therapies closes first tranche of A$2 million convertible notes sale
By Laura Lutz
Washington, March 8 - Medical Therapies Ltd. raised A$1.75 million from a private placement of convertible notes.
The company expects to raise A$250,000 more in the placement.
The notes mature on Dec. 31, 2008. Full terms of the notes were not announced.
Proceeds will be used for working capital and product development.
Medical Therapies is a pharmaceutical company based in North Ryde, Australia.
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