SOLAPHARM RAISES $4 MILLION IN THIRD ROUND OF FINANCING
SoLapharm, Inc., a privately-held pharmaceutical company ("SoLapharm"
or the "Company"), announced today the completion of an extension
to its third ("C") round of financing in which $4 million was raised
by the sale of common stock at $5.75 per share. The first part of the "C"
round closed in June, 2005, raising $5.9 million. Both parts of the current
round were oversubscribed, as were the prior A and B rounds. SoLapharm has self-underwritten
all of its Offerings and has now raised approximately $16 million since 2003.