Vyteris completes $12.7 million private placement

By Sheri Kasprzak

New York, Aug. 1 - Vyteris Inc. settled a private placement for $12.7 million.

The terms of the offering were unavailable by press time Wednesday.

Proceeds will be used for commercial rollout, including additions to the company's management. The rest will be used for commercialization and for marketing and promotion.

Based in Fair Lawn, N.J., Vyteris makes a drug-delivery patch.

The company's stock fell by 5 cents, or 2.33%, to close at $2.10 (OTCBB: VYHN).

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