According to LocalBusiness.com, Raleigh-based Salix Pharmaceuticals Ltd. has raised approximately $14.1 million through a private placement of about 2.26 million shares of common stock. Salix, which develops and markets drugs that treat gastrointestinal diseases, said it plans to use the money to launch its drug COLAZAL in the first quarter and to fund a drug that's in clinical trials. Salix also announced that the Nasdaq Stock Market has approved Salix's request to trade under the symbol "SLXP" as part of the Nasdaq SmallCap Market.
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