WATERTOWN, Mass.--(BUSINESS WIRE)--Acusphere, Inc. (NASDAQ: ACUS) today announced that it closed its previously announced transaction with Cephalon, Inc., which will provide Acusphere with $20 million in immediate financing through the issuance of a $15 million senior secured convertible note and a $5 million upfront fee for an exclusive worldwide license to AI-525, a preclinical-stage injectable formulation of celecoxib using Acusphere’s proprietary Hydrophobic Drug Delivery System (HDDS™) technology.
