Investors Boost Stakes in Hana Biologics Inc.
Montgomery Medical Ventures II acquired the equivalent of a 23.2% stake in Alameda, Calif.-based Hana Biologics Inc., according to a filing with the Securities and Exchange Commission.
Montgomery Medical, a venture capital fund created to make investments, bought 60,000 series A preferred shares that are convertible into about 1 million common shares. A warrant to buy 16.7 common shares was granted to Montgomery Medical for each preferred share it purchased.
The company owns the equivalent of 2 million common shares in the manufacturer of biological products.
In a separate filing, R&D; Funding Corp. boosted its stake in Hana to the equivalent 20%. R&D;’s general partner bought 40,000 shares of preferred stock, with each share convertible into 16.7 common shares and also holds warrants for an additional 666,680 common shares.
R&D; holds the equivalent of 1.3 million shares.
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