LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--July 24, 2006--BioSante Pharmaceuticals, Inc. (AMEX:BPA - News) today announced that it has closed its previously announced $7.6 million private placement of shares of its common stock and warrants to institutional and other accredited investors. A total of 3,812,978 shares of common stock were sold at a purchase price of $2.00 per share. Investors also received warrants to purchase 1,334,542 shares of common stock at an exercise price of $2.75 per share. Rodman & Renshaw, LLC served as placement agent for the transaction.
