Idera Pharmaceuticals, Inc. (Nasdaq:IDRA) designs and creates proprietary Toll-Like Receptors (TLR) to modulate immune responses, including TLR agonist, a compound that stimulates an immune response through the targeted TLR; and TLR antagonist, a compound that blocks activation of an immune response through the targeted TLR. Its drug candidates include IMO-2125, a TLR9 agonist, which is in Phase 1 clinical trial for hepatitis C virus infection; and TLR7, 8, and 9 agonists that are in research stage for viral diseases. Idera Pharmaceuticals, a biotechnology company, discovers and develops DNA- and RNA-based drug candidates for the treatment of infectious diseases, autoimmune and inflammatory diseases, cancer, and asthma and allergies, and for use as vaccine adjuvants.



Idera Pharmaceuticals, Inc. yesterday announced it has raised $9.5 million in a convertible preferred stock offering. In the offering, Idera Pharmaceuticals issued and sold 1,124,260 shares of its convertible preferred stock convertible into 5,621,300 shares of common stock and warrants to purchase 2,810,650 shares of common stock. Each share of convertible preferred stock is convertible into five shares of common stock at a conversion price of $1.6275 per share and warrants are exercisable at $1.6275 per share. The purchase price represents a five percent premium to the closing price of Idera’s common stock on Thursday, November 3rd, 2011. Idera Pharmaceuticals intends to use the net proceeds from the transaction for general corporate purposes, including continuing to fund development of Toll-like Receptor (TLR) targeted candidates in its autoimmune and inflammatory disease program and its gene-silencing oligonucleotide (GSO) technology. The securities in the offering were sold to Pillar Pharmaceuticals, I, L.P., a newly formed investment partnership whose general partner is one of the directors of Idera. Rodman & Renshaw LLC, a subsidiary of Rodman Capital Group Inc. acted as the financial advisor for the company in connection with the offering.

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