Acusphere Inc. Announces Closing of Transaction with Cephalon, Inc.

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.
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