Apr 26 2010
Urigen Pharmaceuticals, Inc. (OTCBB: URGP), a specialty pharmaceutical company focused on the development of treatments for urological disorders and pain, announced today that the secured debt held by Platinum-Montaur Life Sciences, LLC has been converted into a newly created Series C Preferred Stock of the Company. As a result of the conversion, the lien on the Company's assets, including its intellectual property will be extinguished.
“This is an important event for Urigen and represents a vote of confidence by our key institutional investor”
"This is an important event for Urigen and represents a vote of confidence by our key institutional investor," said Urigen's CEO, William J. Garner, MD.
Michael M. Goldberg, MD, Portfolio Manager, Platinum-Montaur Life Sciences, LLC, and a Director of Urigen, said, "With the filing for the URG101 FDA meeting, I believe that Urigen is making considerable progress and this is a step that we have taken to enhance the profile of the company to attract additional investment."
SOURCE Urigen Pharmaceuticals, Inc.
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