SoLapharm, Inc. (“SoLapharm” or the “Company”) announced today the successful completion of a round of equity financing. The Company, which self-underwrote the offering, raised $3 million by selling 400,000 shares at $7.50 per share. The offering was oversubscribed. Proceeds will be used for working capital and to finance the Company’s various development programs. In August, 2003, SoLapharm had raised $2.8 million in another oversubscribed offering valued at $3.50 per share. Shortly afterward, the Company also raised $135,000 at $4.50 per share from Gerolymatos, S.A., a European pharmaceutical company.
