Cyclacel Pharmaceuticals, Inc. Announces $3.0 Million Financing to Fund Ongoing Litigation Expenses on Certain Intellectual Property

BERKELEY HEIGHTS, N.J., March 22, 2012 (GLOBE NEWSWIRE) -- Cyclacel Pharmaceuticals, Inc. (Nasdaq:CYCC) (Nasdaq:CYCCP) (“Cyclacel” or the “Company”), today announced that the Company entered into a purchase agreement with certain existing institutional stockholders raising $3,036,000 in gross proceeds. The proceeds from the financing will be used to fund ongoing litigation-related expenses on certain intellectual property and otherwise for general corporate purposes.