Neoprobe Corporation (NEOP.OB) Receives $3 Million in Clinical Funding
Neoprobe Corporation, a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, has completed the second closing of $3 million in financing. This funding will help Neoprobe start its Phase 3 clinical studies of Lymphoseek in patients with breast cancer or melanoma and head and neck squamous cell carcinoma. Montaur issued the funds to Neoprobe in the form of a secured note. The note, which is fully convertible into Neoprobe common shares at $0.36 per share - the closing price of Neoprobe’s common stock on April 10, 2008 when the investment was priced - is repayable in December…