WARRINGTON, Pa., Dec. 15, 2008 (GLOBE NEWSWIRE) -- Discovery Laboratories, Inc. (Nasdaq:DSCO) has entered into a new Committed Equity Financing Facility (New CEFF) with Kingsbridge Capital Limited, a private investment group, in which Kingsbridge has committed to provide up to $25 million of capital over a two-year period through the purchase of newly-issued shares of Discovery Labs' common stock. This New CEFF is in addition to the April 2006 and May 2008 Committed Equity Financing Facilities with Kingsbridge (the Prior CEFFs). Under the terms of the New CEFF agreement, Discovery Labs will determine the exact timing and amount of any financings, subject to certain conditions. The New CEFF allows Discovery Labs to raise capital, at its discretion, to support the Company's business plans.
