DALLAS and NEW YORK, April 2,
2015 /PRNewswire/ -- PlasmaTech Biopharmaceuticals,
Inc. (NASDAQ: PTBI), a biopharmaceutical company advancing protein
biologic therapies and oncology supportive care products, today
announced that it has entered into a definitive purchase agreement
with Knoll Capital Management, a leading healthcare institutional
investor, to raise $5.0 million in a
private placement of common stock. The private financing is
comprised of 1,666,667 shares of common stock, at a price of
$3.00 per share. PlasmaTech plans to
use the proceeds of the financing to accelerate development of its
proprietary Salt Diafiltration (SDF™) Plasma Protein technology,
working capital and general corporate purposes.
"We are pleased to add another leading healthcare and
biotechnology investor to our shareholder base, and the additional
capital enables the Company to build out its innovative, and
potentially disruptive, technology platform in the high-growth
plasma biologics arena," stated Steven H.
Rouhandeh, PlasmaTech's Executive Chairman. "We appreciate
the vote of confidence from Knoll Capital, and look forward to a
productive relationship moving forward."
The closing of the offering is subject to the satisfaction of
customary closing conditions. The securities sold in this financing
have not been registered under the Securities Act of 1933, as
amended, or state securities laws and may not be offered or sold in
the United States absent
registration with the Securities and Exchange Commission or an
applicable exemption from such registration requirements. This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Plasma Proteins and the SDF™ Process: The global
market for drugs derived from human blood plasma fractionation is
currently greater than US$15 billion,
and is growing at a rate close to 10% annually. Despite this
significant market opportunity, limited innovation in fractionation
technology has occurred in decades. PTBI has developed and patented
a new extraction process for plasma biologics that may
fundamentally change the economics of blood plasma fractionation,
and makes possible the extraction of several additional
therapeutically useful plasma proteins. The Company believes that
PlasmaTech's proprietary fractionation process is expected to
significantly enhance yields of key value blood proteins, including
alpha-1 antitrypsin, expanding market opportunities while greatly
enhancing margins. The Company obtained rights to utilize and
sub-license to other pharmaceuticals firms, the patented improved
methods for the extraction of therapeutic biologics from human
plasma. The Company believes that PlasmaTech's lead product
opportunity, alpha-1 antitrypsin (ATT), will offer a potentially
high revenue, short time-to-market respiratory product (AAT) for
treatment of inherited COPD (pulmonary emphysema), among other
indications. Additionally, the ability to extract several
additional therapeutically useful and important proteins, due to
the process being less destructive than historical fractionation
processes, may enable the Company to seek new therapeutic
applications and address high-value-added orphan indications.
About PlasmaTech: PlasmaTech is a biopharmaceutical
company focused on advancing protein biologic therapies and
oncology supportive care products. Exploiting two proprietary
platforms, Salt Diafiltration (SDF™) Process and Polymer Hydrogel
Technology (PHT™), PlasmaTech is active in the development and
commercialization of human plasma-derived therapeutics, including
its proprietary alpha-1 protease inhibitor, SDF Alpha™. The company
has a robust product pipeline that includes two commercial stage
products, MuGard® and ProctiGard™, and follow-on products in
development. For more information, visit www.plasmatechbio.com.
Company and Media Contact:
Andre'a Lucca
Director of Communications
PlasmaTech Biopharmaceuticals, Inc.
212-786-6208
alucca@plasmatechbio.com
This press release contains certain statements that are
forward-looking within the meaning of Section 27a of the Securities
Act of 1933, as amended, and that involve risks and uncertainties.
These statements include, without limitation, those relating to:
the anticipated closing of, and the amount of the proceeds from,
the private placement described in this press release, our cash
burn rate, clinical trial plans and timelines and clinical results
for MuGard and ProctiGard, the global market for drugs derived from
human blood plasma and its growth rate, expectations relating to
AAT, our ability to achieve clinical and commercial success and our
ability to successfully develop marketed products. These statements
are subject to numerous risks, including but not limited to
PlasmaTech's need to obtain additional financing in order to
continue the clinical trial and operations and to the risks
detailed in PlasmaTech's Annual Reports on Form 10-K and other
reports filed by the Company with the Securities and Exchange
Commission. The Company undertakes no obligations to make any
revisions to the forward-looking statements contained in this
release or to update them to reflect events or circumstances
occurring after the date of this release, whether as a result of
new information, future developments or otherwise.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/plasmatech-biopharmaceuticals-announces-5-million-private-placement-300060025.html
SOURCE PlasmaTech Biopharmaceuticals, Inc.