Inovio raises $30 million

Xconomy San Diego — 

Inovio Biomedical (AMEX: INO), a San Diego company developing DNA-based vaccines against cervical cancer and other diseases, has raised $30 million from the direct sale of 11.1 million shares and 2.8 million warrants to institutional investors. Proceeds to the company will total $28.5 million after fees and other expenses.