DUBLIN--(BUSINESS WIRE)--Amarin Corporation plc (NASDAQ:AMRN) announced today that it has entered into a non-binding term sheet with certain existing investors relating to the proposed private placement of American Depositary Shares (each representing one ordinary share) (“ADSs”) for up to $55 million over two or more closings. The lead investors in the financing are funds affiliated with Longitude Capital, Sofinnova Ventures, Orbimed Advisors and Fountain Healthcare Partners, all of which participated in the Company’s May 2008 financing.
