PANACEA PHARMACEUTICALS RAISES US$7 MILLION

Panacea Pharmaceuticals, a company focused on developing therapeutic and diagnostic products for cancer, announced today that it has closed its Series C Private Placement raising approximately $7 million. Participants in the round included Mitsubishi Corporation Life Sciences Venture, Olympus, JSR, Shin-Etsu Chemical, Fuji Photo Film, Dai Nippon Printing and Tokio Marine & Nichido Fire Insurance, among others. The investments were secured through the assistance of the Cosmos Alliance.

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