SoLapharm, Inc. Raises $4 Million In Third Round Of Financing

PLANTATION, Fla.--(BUSINESS WIRE)--March 2, 2006--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.