Syrrx Closes $18.5 Million Preferred Stock Financing.

SYRRX CLOSES $18.5 MILLION PREFERRED STOCK FINANCING.

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Syrrx, Inc., San Diego, Calif., has announced the close of $18.5 million in preferred stockStock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.

Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate.

..... Click the link for more information. financing, bringing the company's total equity financingEquity Financing

The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation.

..... Click the link for more information. to $98.5 million. The private placement was led by HBMHBM Human Body Model

HBM Human Brain Mapping

HBM Hottinger Baldwin Messtechnik GmbH (German company)

HBM High Bone Mass

HBM Hybrid Bilayer Membrane

HBM Humming Bird Medal

HBM Her/His Britannic Majesty

..... Click the link for more information. Partners and included the participation of both new and existing investors. Syrrx, a rational drug discovery company with a proprietary automated structural proteomics technology platform, will use the funds to expand the company's drug discovery capabilities. The financing comes on the heels of a collaboration Syrrx formed with Celera Genomics (NYSE NYSE

See: New York Stock Exchange : CRA See Community Reinvestment Act. ), an Applera Corporation business, for structure-based drug discovery and the company's acquisition of validated drug targets and additional assets from Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX) Small Molecules Discovery Program.

"We are very pleased that we have been able to continue to build our valuation and secure additional capital despite the current market conditions," said Norman Halleen, CFO See Chief Financial Officer.  of Syrrx. "Along...