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www.fdanews.com/articles/73863-innovive-completes-2-25-million-private-financing

INNOVIVE COMPLETES $2.25 MILLION PRIVATE FINANCING

June 29, 2005

Innovive Pharmaceuticals, a biopharmaceutical company headquartered in Manhattan, has announced that it has raised $2.25 million in a convertible note financing. Paramount BioCapital served as the placement agent. "This is a vote of investor confidence in Innovive's progress and plans," said Steven Kelly, Innovive's president and chief executive officer. Innovive recently licensed worldwide rights for the use of INNO-105 in oncology from Penn State University.

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