Aethlon Medical Executes $8.4 Million Common Stock Purchase Agreement
March 22 2007 - 10:00AM
Business Wire
Aethlon Medical, Inc., (OTCBB:AEMD), a pioneer in developing
therapeutic devices for infectious disease, today announced it has
entered into an $8.4 million Common Stock Purchase Agreement with
Fusion Capital Fund II, LLC, a Chicago-based institutional
investor. Under the agreement, the Company has agreed to sell to
Fusion Capital $400,000 of its common stock on the date that a
registration statement related to the transaction is filed with the
Securities and Exchange Commission (SEC). The Company may sell an
additional $8.0 million of common stock to Fusion Capital from time
to time over a 25-month period after the SEC has declared effective
the registration statement related to the transaction. The proceeds
will be used to advance the commercialization of Aethlon�s
Hemopurifier� treatment technology. Under the agreement, the
Company has the right to sell shares of common stock to Fusion
Capital from time to time in amounts between $32,000 and
$1,000,000, depending on certain conditions, for up to $8.0 million
of additional funds. The purchase price of the shares will be based
on the prevailing market prices of the Company's shares at the time
of sales without any fixed discount, and the Company will control
the timing and amount of any sales of shares to Fusion Capital.
Fusion Capital has agreed not to engage in any direct or indirect
short selling or hedging of the common stock in any manner
whatsoever. A more detailed description of the transaction, as well
as copies of the material agreements, is set forth in the Company's
Form 8-K filed today with the SEC. "We are pleased to renew our
long standing relationship with Fusion Capital," commented James A.
Joyce, Aethlon Chairman and CEO. �The agreement provides us with
reasonable terms, the flexibility to execute other transactions,
and the ability to sell our shares to Fusion Capital when we
determine the share price is most advantageous for the Company,"
concluded Mr. Joyce. About Aethlon Medical Aethlon Medical has
developed a first-in-class medical device to assist in the
treatment of infectious disease. The device, known as the
Hemopurifier�, is positioned to be a broad-spectrum treatment for
drug and vaccine resistant bioweapons, naturally evolving pandemic
threats, and chronic infectious disease targets including
Hepatitis-C (HCV) and the Human Immunodeficiency Virus (HIV). On
March 6, 2007, Aethlon submitted an Investigational Device
Exemption (IDE) to the U.S. Food and Drug Administration (FDA)
requesting permission to initiate human safety studies of the
Aethlon Hemopurifier� as a treatment countermeasure against select
category �A� bioterror threats. Additional studies to demonstrate
utility of the Hemopurifier� as a countermeasure against bioterror
threats are being conducted with researchers at The Centers for
Disease Control and Prevention (CDC), The United States Army
Medical Research Institute of Infectious Diseases (USAMRIID), and
The Southwest Foundation for Biomedical Research (SFBR). Category
�A� bioterror threats are defined by the CDC as agents that pose a
risk to national security; are easily disseminated or transmitted
from person to person; result in high mortality rates; may cause
public panic and social disruption, and require special action for
public health preparedness. Global researcher, Frost & Sullivan
awarded the Hemopurifier� the 2006 Technology Innovation Award, and
The AIDS Institute presented Aethlon with the 2007 Innovative HIV
Life Sciences Leadership Award. The Company has also initiated
research on a second generation Hemopurifier� that targets the
capture of growth factors inherent in the spread of Cancer. More
information on Aethlon Medical and the HemopurifierTM technology
can be found at www.aethlonmedical.com. Certain of the statements
herein may be forward-looking and involve risks and uncertainties.
Such forward-looking statements involve assumptions, known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Aethlon Medical, Inc
to be materially different from any future results, performance, or
achievements expressed or implied by the forward-looking
statements. Such potential risks and uncertainties include, without
limitation, the Company�s ability to raise capital when needed, the
Company�s ability to complete the development of its planned
products, the ability of the Company to obtain FDA and other
regulatory approvals permitting the sale of its products, the
Company�s ability to manufacture its products and provide its
services, the impact of government regulations, patent protection
on the Company�s proprietary technology, product liability
exposure, uncertainty of market acceptance, competition,
technological change, and other risk factors. In such instances,
actual results could differ materially as a result of a variety of
factors, including the risks associated with the effect of changing
economic conditions and other risk factors detailed in the
Company�s Securities and Exchange Commission filings.
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