Biodel raises $18.5M in a private placement Biodel has entered into a definitive securities purchase agreement with a group of institutional investor for the private placement of approximately 7.9M shares of its capital stock and warrants to purchase approximately 2.7M shares of its common stock. A portion of the shares to be issued will be shares of Biodel's common stock and a portion will be shares of its Series B Preferred Stock. For each share being purchased, investors will receive a warrant to purchase 0.35 of a share of common stock. consisting of a share and warrant, the investors have agreed to pay a negotiated price of $2.355. William Blair & Company, L.L.C. acted as Sole Lead Placement Agent and JMP Securities LLC acted as Co-Agent for the private placement.