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Recro Pharma Raises $16 Million

Will further fund the development of lead candidates IV/IM meloxicam and Dex-IN

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Recro Pharma, Inc., a specialty pharmaceutical company developing multiple non-opioid therapeutics for the treatment of acute post-operative pain, has closed the private placement announced on July 1, 2015. Pursuant to the securities purchase agreement with a group of institutional accredited investors led by Broadfin Capital, LLC, the company issued 1,379,311 shares of common stock, providing the company with gross proceeds of approximately $16 million. The company intends to use the net proceeds of the financing to further fund the clinical development of Recro Pharma’s lead candidates, IV/IM meloxicam and Dex-IN.

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