SAN DIEGO--(BUSINESS WIRE)--Nanogen, Inc. (Nasdaq:NGEN), developer of advanced diagnostic products, announced today that it has entered into a definitive agreement for a $20 million registered offering to institutional investors of Senior Convertible Notes and warrants. The transaction is expected to fund today. Seven Hills Partners LLC served as the placement agent for the transaction. “We are pleased to announce this financing from a group of solid institutional investors familiar with both our market place and our long term prospects,” said Howard C. Birndorf, Nanogen chairman and chief executive officer. “This financing provides the company with a vehicle for long term continued investment in the company and allows us to focus on our core objectives of managing the business and improving our EBITDA performance.”
