DUBLIN, Ohio--(BUSINESS WIRE)--Neoprobe Corporation (OTCBB:NEOP), a diversified developer of innovative oncology and cardiovascular surgical and diagnostic products, today announced that it has notified Platinum-Montaur Life Sciences, LLC (Montaur) that results to-date from patients with breast cancer or melanoma enrolled in the Phase 3 trial of Lymphoseek satisfy the funding objective as set forth in the securities purchase agreement, as amended, that was a condition to the closing of a third tranche of investment from Montaur. As provided in the securities purchase agreement, Neoprobe will receive the third funding of $3 million in exchange for convertible preferred stock and warrants to purchase common stock of Neoprobe. The third funding will bring Montaur’s total investment in Neoprobe to $13 million. Neoprobe and Montaur expect to close on the investment within the next week and will provide further details at that time.
