Profectus BioSciences, Inc. Announces Additional $3 Million Private Placement of Equity Securities; Transaction to Accelerate the Development of Cell Cycle Agent Technologies and Other Enabling Antiviral Technologies.BALTIMORE -- Profectus BioSciences, Inc., a biotechnology company that develops preventative and therapeutic technologies to reduce the morbidity and mortality Morbidity and Mortality can refer to:
Under the terms of the financing, the investors purchased shares of newly issued convertible Series A Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. from the company and exchanged previously-issued convertible notes. The company anticipates using the proceeds from the financing to forward work on cell cycle agent technologies to enhance the clinical efficacy of existing drugs and formulate new viral entry inhibitors. The company will also use the funds to begin investigation of other enabling technologies that support the production of effective antiviral vaccines and therapeutics, and to negotiate and generate revenue from various licensing agreements. Since commencing operations, Profectus licensed intellectual property of its founding scientists at the Institute of Human Virology The Institute of Human Virology (IHV) at the University of Maryland School of Medicine is a world-class center of excellence focusing on chronic viral diseases, most notably HIV/AIDS, and virally linked cancers. IHV was founded in 1996 and continues to be directed by Dr. Robert C. from the University of Maryland Biotechnology Institute “UMBI” redirects here. For the Japanese Marine Biological Institute, see Usa Marine Biological Institute. Formed in 1985, the University of Maryland Biotechnology Institute (UMBI) is part of the University System of Maryland. and the University of Maryland University of Maryland can refer to:
Profectus BioSciences, Inc. began operations in early 2005 to develop and commercialize technologies to reduce the morbidity and mortality caused by human viral diseases, including the human immunodeficiency virus human immunodeficiency virus n. HIV. Human immunodeficiency virus (HIV) A transmissible retrovirus that causes AIDS in humans. (HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States. ), the causative agent of AIDS. The Company's name, Profectus, translated from its Latin roots, means "to advance or improve," thus capturing its approach to adding value to existing products or products under development from the leading global pharmaceutical companies. The company applies its specific scientific expertise to help commercialize new or repositioned drugs used for human and animal health. |
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