Greater Cincinnati pharmaceutical firm raises $40M

Story excerpt provided by Cincinnati Business Courier.

Written by Barrett J. Brunsman.

Aerpio Pharmaceuticals Inc. revealed today it raised $40 million by issuing 8 million shares of common stock, which will be used to develop clinical programs such as a treatment for eye disease related to diabetes.

The stock, priced at $5 a share, was sold to “accredited investors.” The offering was exempt from registration under the Securities Act.

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Originally published March 16, 2017.