Danbury specialty pharmaceutical developer Biodel Inc.’s efforts to raise $30 million through a private stock placement apparently drew interest from a San Francisco investment fund.
Ayer Capital Management disclosed Monday it has 6.39 percent “passive stake” in Biodel, which is developing and commercializing a line of fast-acting diabetes treatments.
Biodel announced May 13 a registration filing with the Securities and Exchange Commission to sell about 12.2 million shares of common stock, plus another 1.7 million convertible preferred shares and warrants for another 9 million common shares, directly to a group of institutional investors.
The transaction closed last week.
Ayer Capital did not disclose how many shares it purchased or what percentage of Biodel it may have owned previously.
The other investors include equity fund Great Point Partners LLC in Greenwich and New York venture fund Orbimed Advisors LLC.
Neither Ayer Capital nor Biodel could be immediately reached Tuesday for comment.
