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The Company has no long-term debt and has approximately $6.2 million in cash, as of October 12, 2006. Advanced Biotherapy, Inc. Completes Stock Sale and Debt Conversion Friday October 13, 7:10 pm ET CHICAGO--(BUSINESS WIRE)--Advanced Biotherapy, Inc. (OTCBB:ADVB - News) announced today that it has completed the sale of common stock to Richard P. Kiphart and other new investors in the amount of $5.4 million. This investment, plus the previous $1.1 million invested by Richard P. Kiphart around August 28, 2006, completes the $6.5 million capital raise previously announced by the Company. The Company also announced the conversion of all convertible notes, other promissory notes and accrued salaries owed by the Company, except for a nominal amount which was paid out in cash. The Company has no long-term debt and has approximately $6.2 million in cash, as of October 12, 2006. ADVERTISEMENT About Advanced Biotherapy The Company, a pioneer in anticytokine therapy, has demonstrated the effectiveness of its pioneering scientific strategy by conducting investigational clinical trials treating patients suffering from AIDS, multiple sclerosis, rheumatoid arthritis, corneal transplant rejection and certain autoimmune skin conditions, including alopecia, all Th1 mediated autoimmune diseases which appear to have the same proinflammatory Th-1 activity. Advanced Biotherapy is headquartered in Chicago with laboratories in Columbia, Maryland. The company has an extensive patent portfolio including 7 issued patents. |
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| aus der Diskussion: | Advanced Biotherapy Enters Into Share Purchase and Debt Restructure Agreement |
| Autor (Datum des Eintrages): | UH1d (19.10.06 19:46:16) |
| Beitrag: | 6 von 6 (ID:24727834) |
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