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ARYX - ARYx Therapeutics Secures $35 Million Committed Equity Financing Facility

Looks like they are finding it hard to convince a partner

FREMONT, Calif.--(BUSINESS WIRE)--ARYx Therapeutics, Inc. (NASDAQ:ARYX - News), a biopharmaceutical company, today announced that it has secured a committed equity financing facility under which it may sell up to $35 million of shares of its common stock to Commerce Court Small Cap Value Fund, Ltd. (“Commerce Court”) over a 24 month period. The maximum number of shares that can be sold by ARYx is specified in the agreement. ARYx is not obligated to utilize any of the $35 million facility and remains free to enter into and consummate other equity and debt financing transactions.

http://finance.yahoo.com/news/ARYx-Therapeutics-Secures-35-bw-3601928290.html?x=0&.v=1