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BioMimetic Therapeutics (drug-device combo products for orthopedic indications) has completed an oversubscribed rights offering of 2mm shares at $8.50 (a 9% discount) to existing stockholders. In addition the company sold current backer Novo AS another 343k at the same price in a private placement. (Novo AS had been a standby purchaser in the rights offering but did not participate due to the oversubscription.) Total net proceeds from both transactions was $16.8mm.
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