NEWTON, Mass.--(BUSINESS WIRE)--Clinical Data, Inc. (NASDAQ:CLDA) today announced that it has completed a $50 million convertible debt financing with New River Management V, LP and another affiliate of Randal J. Kirk, Chairman of Clinical Data’s Board of Directors. The primary use of the capital will be to advance the Company’s two late-stage therapeutic programs through key milestone events anticipated this year including: 1) the completion of its second Phase III registration trial and planned new drug application (NDA) filing for vilazodoneTM, a first-in-class drug candidate for the treatment of depression, and 2) the initiation of its Phase III clinical program for StedivazeTM, a potential best-in-class cardiac stress agent.
