Collexis Announces $2.7 Million Private Placement - Strategic Initiatives on Track

 

Monday, December 17, 2007 – Collexis announced today that it has raised gross proceeds of $2.7 million through the private placement of 3.6 million shares of restricted common stock to institutional and other accredited investors at $0.75 cents a share.


“We are gratified that both existing and new investors, including board members, have recognized the significant progress we are making towards our strategic initiatives and are enthusiastic about the exciting opportunities that lie ahead as we further develop our technological solutions,” said William Kirkland, Collexis CEO. “This financing will allow us to expand our core platforms, launch our social networking community, make selected strategic acquisitions and for working capital purposes.”


Over the past few months, Collexis has added a number of high-profile institutions such as the Mayo Clinic and the California Institute for Biosciences (QB3) to its client base. Collexis also completed the acquisition of its long time development partner, SyynX Solutions GmbH, and announced the pending launch of the world’s first pre-populated professional social network for life science researchers, called Biomedexperts.com at the 2007 Frankfurt Bookfair.

 

 Read the full press release here.