SAN DIEGO--(BUSINESS WIRE)--NexMed, Inc. (Nasdaq:NEXM), a specialty CRO with a pipeline of products based on the NexACT® technology, announced today that it raised $1.4 million in gross proceeds from refinancing the mortgage on its manufacturing facility in New Jersey. The mortgage secures the issuance of new convertible notes due December 31, 2012 (the "Notes"), which were purchased by three accredited investors, including The Tail Wind Fund Ltd., of Great Britain, a long-time investor in NexMed.
