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Athenex raises $20 million in debt financing

Buffalo biotech company Athenex has raised $20 million from investors through a debt offering, the firm said in a filing with federal securities regulators.

The latest fundraising by the company comes as New York state last month released $200 million in promised funding for the company's plans to build a 315,000-square-foot, drug manufacturing facility in Dunkirk. In return, Athenex promised over time to spend $1.52 billion and hire 450 workers there.

But little activity has taken place on the Dunkirk project since state and Athenex officials announced the public-private partnership in February 2016. The company last month said it is preparing to hire a construction and engineering manager for the massive project, which is part of the state's Buffalo Billion economic development program.

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