Proteonomix, Inc. (PROT) Completes $3.8 Million Private Placement
(firmenpresse) - HAWTHORNE, NJ -- (Marketwire) -- 03/19/12 -- (OTCBB: PROT), a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives, announces the completion of a previously announced $3.8 million private placement. The Company plans to use the proceeds from this financing to repay debt, fund clinical and preclinical studies and expand its management team, as well as for general corporate purposes.
"We anticipate that this financing will support the advancement of StromaCel™ for treatment of patients following myocardial infarction and to advance the research for a treatment for type 1 diabetes," said Proteonomix President and CEO Michael Cohen. "This is an exciting time at Proteonomix as we also advance our clinical program with UMK-121 which has been approved for clinical trials in end stage liver disease and a second clinical trial is currently being designed for testing of UMK-121 in cancer patients. Lastly we are preparing to launch our anti-aging skin care line later this year."
The financing consisted of shares of Series E convertible preferred stock at an aggregate purchase price of approximately $3.8 million, convertible into a total of 895,291 shares of Proteonomix common stock at any time at a conversion price of $4.25 per share, subject to adjustment as provided in the certificate of designation. The financing also included Series A, Series B and Series C warrants to purchase an aggregate of 2,685,873 shares of Proteonomix common stock at an exercise price of $4.25 per share.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. The Proteonomix family of companies includes Proteoderm, StromaCel, PRTMI and THOR Biopharma. Proteoderm is a wholly owned subsidiary that has developed an anti-aging line of skin care products, which will be available in select U.S. physician offices beginning September 2012. StromaCel develops therapeutic modalities for the treatment of cardiovascular disease, with plans to file an IND application in the 2012 second quarter for post-myocardial infarction treatment. Proteonomix Regenerative Translational Medicine Institute, Inc. (PRTMI) intends to focus on the translation of promising research in stem cell biology and cellular therapy to clinical applications of regenerative medicine. Additional information is available at and .
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Proteonomix, Inc. cautions that statements made in this press release constitute forward-looking statements and makes no guarantee of future performance. Actual results or developments may differ materially from projections. Forward-looking statements are based on estimates and opinions of management at the time statements are made.
Michael Cohen
CEO
973-544-6116
LHA
Jody Cain
310-691-7100
(at)LHA_IR_PR
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Datum: 19.03.2012 - 13:30 Uhr
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