FDAnews Drug Daily Bulletin

BIOAXONE THERAPEUTIC INC. ANNOUNCES CLOSING OF $5.1 MILLION

Dec. 20, 2005
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BioAxone Therapeutic Inc., a Montreal-based neuroscience company, is pleased to announce the recent closing of $5.1 M, the last tranche of a second-round investment of $12.15 M, fully subscribed by its current investors T2C2/Bio2000, Solidarity Fund QFL, Desjardins Venture Capital and Lothian Partners 27 SARL. The investment was made following the completion of key milestones related to the Company's on-going phase I/IIa clinical trial in acute spinal cord injury (SCI), as well as progress in corporate development.

Canada NewsWire (http://www.newswire.ca/en/releases/archive/December2005/19/c1824.html)