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Synergy Pharmaceuticals, Inc.ha announced that it has completed the final phase of its private placement in which it has obtained gross profit of $ 7,092,500 million through the sale of 10,132,143 ordinary shares at a price of $ 0.70 per share.

The benefits of the financing will be used to fund a Phase IIa clinical trial of SP-304, Synergy for chronic constipation, the company plans to start late 2009 or early 2010.

"This funding will allow Synergy to achieve an important milestone in the process of clinical development, namely the completion of a new Phase IIa trial in chronic patients and also provide a clear potential for the treatment of patients with irritable bowel syndrome prevalence of constipation, "said Gabriele Cerrone, Chairman of the Board of Directors of Synergy.