VG Life Sciences, Inc. Closes on $2,235,000 from Private Fund
SANTA BARBARA, Calif.,
Oct. 2, 2013 /PRNewswire/ -- VG Life
Sciences, Inc. (VGLS) is a publicly traded biotechnology company
focused on delivering treatments for patients suffering from
autoimmune and chronic inflammatory disorders.
VG Life Sciences is pleased to announce the closing of a
significant capital event. MedBridge Venture Fund, LLC has made a
cash investment in the Company of $2,235,000. This is in addition to the
$550,000 cash investment made by
MedBridge, LLC in March. This new funding will enable VG Life
Sciences to begin and complete many key milestones outlined in the
Company's July Investor Letter and meet short term capital
needs.
"We have moved quickly since July to secure this necessary
capital in order to take the next pre-clinical step in the
development of our custom and patented Targeted Peptide Technology
and to restore financial accountability to the company," said
John Tynan, VG Life Sciences'
Interim President and CEO.
The invented peptide (VG1177) has a wide range of potential
applications, including HIV/AIDS, Preeclampsia, Brain Trauma,
Hypertension, Lyme disease, and many more autoimmune and chronic
inflammatory disorders.
"This capital infusion is critical in advancing VG1177 to
market," continued Tynan. "The company has progressed from
research, invention and successful lab models and is now ready for
pre-clinical safety studies."
About VG Life Sciences Inc.
Santa Barbara, California-based VG
Life Sciences Inc., formerly known as Viral Genetics, is a
biotechnology company focused on discovering and developing drug
therapies for cancer, infectious disease, and inflammatory,
autoimmune disorders. VGLS controls over 50 US and international
patents and pending patents protecting its exclusive biotech
platform technologies. For more information and upcoming events,
visit www.vglifesciences.com or find VG Life Sciences, Inc.
on Facebook, Twitter, and LinkedIn.
Safe Harbor Statement and Forward-Looking Statements
This news release may contain forward-looking statements that
involve risks and uncertainties associated with financial
projections, milestone timelines, clinical development, regulatory
approvals and other risks described by VG Life Sciences from time
to time in its periodic reports. None of VG Life Sciences' drug
compounds are approved by the US FDA or by any comparable
regulatory agencies elsewhere in the world. Therefore, there can be
no assurance that the forward-looking statements included in this
release will prove to be accurate. In light of the significant
uncertainties inherent in the forward-looking statements included
herein, the forward-looking statements should not be regarded as a
representation by VG Life Sciences or any other person that the
objectives and plans of VG Life Sciences will be achieved.
Contact:
Alexandria Sumner |
Director of Corporate Communications
VG Life Sciences, Inc.
Phone: (805) 679-6763
Email: Asumner@vglifesciences.com
SOURCE VG Life Sciences, Inc.