CTD Holdings Inc. plans to raise about $7.2 million for growth plans and general corporate purposes.

The Gainesville, Fla.-based company plans to issue 28,770,000 shares at 25 cents apiece and 28,770,000 accompanying warrants in a private placement. Each warrant is exercisable at 30 cents apiece and has a five and a half year term.

CTD Holdings is a clinical-stage biotechnology company that develops cyclodextrin-based products to treat diseases.