Tetherex Pharmaceuticals Inc. has raised $50 million to pay for clinical trials for two of its product applications.

The Oklahoma City-based biotechnology company's CEO said Monday the company has raised the money through a private placement of Series B preferred stock. The money will be used to conduct trials on two applications of its SelK2 antibody.

Tetherex plans to conduct a Phase 2 clinical trial evaluating the use of SelK2 for treatment of blood clots in patients undergoing total knee replacement surgery and a second Phase 2 trial evaluating SelK2 in Crohn's disease or other inflammatory conditions.

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