SGX Smokes $25 Million PIPE

SGX Pharmaceuticals Inc. (Nasdaq: SGXP), a San Diego-based drug company focused on cancer therapeutics, has raised $25 million in a private placement of common stock and warrants from an institutional investor group that includes OrbiMed Advisors and Great Point Partners. OrbiMed had been one of SGX's venture capital backers, prior to the company's early 2006 IPO.