Tyme Technologies completes $6.79 million private placement of stock

Shares were sold in exchange for $4.29 million in cash and 90-day note

By Devika Patel

Knoxville, Tenn., March 19 – Tyme Technologies, Inc. said it settled a $6.79 million private placement of common stock on March 5.

Of the proceeds, $4.29 million was paid in cash and the remainder is subject to a 90-day promissory note that is secured by an escrow of the company’s outstanding common stock.

Based in New York, Tyme is a pharmaceutical research and development company focused on discovering cancer therapeutics.

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