Eastern, Hepalink invest in Resverlogix's $10 mln equity offering

Calgary biotechnology company Resverlogix Corp (TSX: RVX) has closed a $10 million equity offering. Eastern Capital and Shenzhen Hepalink Pharmaceutical Co Ltd, existing investors in the company, accounted for most of the funding. The deal increases Eastern's stake to up to 26.3 percent of outstanding shares, and Hepalink's stake to up to 14.9 percent. The offering's proceeds will be used by Resverlogix to fund research and clinical trial activities related to its treatments for cardiovascular disease and other conditions, among other priorities. Founded in 2001, the company is also backed by U.S. venture capital firm NGN Capital.

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