Navidea announced that they have executed agreements with five investors, including an existing investor, John Scott, Jr., to purchase approximately 2.1M shares of the company's common stock, par value $0.001 per share, in a private placement for aggregate gross proceeds to Navidea of approximately $1.9M. The securities to be issued to the Investors will represent approximately 9.3% of the company's outstanding common stock after such issuance. Navidea intends to use the net proceeds from the private placement to fund its research and development programs, including continuing to advance its Phase 2b and Phase 3 clinical trials of Tc99m tilmanocept in patients with rheumatoid arthritis, and for general working capital purposes and other operating expenses.