November 12, 2009 (FinancialWire) — PolyMedix Inc. (OTCBB: PYMX) (Current Market Cap: $56.85 Mil.) has priced a registered public offering of up to 21 million units consisting of shares and warrants for $1 per unit, for a total of up to $21 million in gross proceeds.

The units consist of one share of PolyMedix common stock and a five-year warrant to purchase 0.30 shares of PolyMedix common stock at $1.25 per share. Merriman Curhan Ford (NASDAQ: MERR) acted as lead placement agent in this offering.

PolyMedix plans to use the net proceeds primarily to continue the clinical development of two drug candidates, PMX-30063 antibiotic and PMX-60056 heparin antagonist, into Phase 2 human clinical trials in 2010.

Radnor, Pennsylvania-based PolyMedix is a biotechnology company focused on addressing large market opportunities relating to the development of novel drugs and biomaterials for the treatment of infectious diseases and acute cardiovascular disorders.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.