Alseres Pharmaceuticals Inc. of Hopkinton has received $200,000 through a financing agreement with Cato Holding Co. of North Carolina.
The agreement allows for the private placement of 200,000 shares of the company’s common stock at a purchase price of $1 per share. The company said it will use the proceeds to pay debts to the related contract research and development company Cato Research Ltd.
Alseres develops therapeutic and diagnostic products for disorders of the central nervous system.
