WIXOM, Mich., Feb. 9, 2012 (GLOBE NEWSWIRE) -- Rockwell Medical Technologies, Inc. (Nasdaq:RMTI), a fully-integrated biopharmaceutical company targeting end-stage renal disease (ESRD) and chronic kidney disease (CKD) with innovative products and services for the treatment of iron deficiency and secondary hyperparathyroidism, announced today that it has priced a firm commitment underwritten registered direct offering of 1,845,000 common shares at $9.50 per share for an aggregate offering amount of approximately $17.5 million. Rockwell Medical plans to use the net proceeds from the offering for general corporate purposes, including research and development, acquisition of intellectual property relating to complementary drug therapies to advance development of its pharmaceutical product pipeline, and funding of clinical trials, including the Phase 3 clinical trials for its lead program, soluble ferric pyrophosphate (SFP).
