BioSante closes $15 million registered direct offering BioSante Pharmaceuticals.

BioSante sold an aggregate of 7 approximately.1 million shares of its common stock and warrants to get up to approximately 3.55 million shares of its common stock. Each device, consisting of one talk about of common share and a warrant to get 0.50 of a talk about of common share, was sold for a price of $2.1025, reduced to the closing bid cost on Friday June 18, 2010, as reported by the NASDAQ CURRENCY MARKETS. The warrants to get extra shares are exercisable at a fitness price of $2.on June 23 45 per share beginning, on June 22 2010 and can expire, 2015. All the securities were provided pursuant to a highly effective shelf registration declaration. Proceeds from the purchase will be mainly used to invest in BioSante’s LibiGel Stage III clinical study plan and for general corporate reasons.The study, which will be shown at the American Chemical substance Society in Philadelphia following August, showed that the substances in stone fruits is actually a weapon against metabolic syndrome, where inflammation and obesity result in serious health issues, relating to Dr. Luis Cisneros-Zevallos, AgriLife Research meals scientist. Recently obesity has turned into a main concern in society because of the health issues associated to it, stated Cisneros-Zevallos, who is a co-employee professor at Texas A&M University. In the U.S., statistics show that about 30 % of the populace is over weight or obese, and these full instances are increasing each year in alarming numbers.