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Pro-Pharmaceuticals closes equity financing

Pro-Pharmaceuticals has closed its previously announced registered direct equity offering of common stock and warrants. The company received net proceeds of approximately $3.5 million.

Theodore Zucconi, president of Pro-Pharmaceuticals, said: “This financing, together with the ‘friends and family’ private placement we recently completed, enables us to reach critical milestones for Davanat and our fibrosis compounds.”