Tuesday, January 22, 2008

North American Scientific Gets $15.5M In PIPE

Chatsworth-based North American Scientific said Tuesday that it has closed on a $15.5M private placement of its common stock. The funding came from venture capital firms Three Arch Partners, CHL Medical Partners, and SF Capital Partners. According to the firm, Three Arch invested $10M in the company; CHL $3M, and SF Capital Partners $2.5M. The sole placement agent for the transaction was Oppenheimer & Co. North American Scientific develops radiation therapy products used for the treatment of cancer.

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