Ascentia Biomedical Receives $1 Million Funding Commitment to Support Continued Research and Organizational Growth
15 September 2005 - 12:25AM
PR Newswire (US)
BELLEVUE, Wash., Sept. 14 /PRNewswire-FirstCall/ -- Ascentia
Biomedical Corporation (OTC Pink Sheets: ASCE), a leading
researcher and developer of efficacious pharmaceuticals, compounds
and other products, announces it has received an initial commitment
for up to $1 million in funding for continued research,
particularly in anti-cancer compounds, and for organizational
growth. The financing will come in the form of a series of separate
convertible notes through Winsted Holdings, Inc. (OTC:WHLI)
(BULLETIN BOARD: WHLI) , Newport Beach, California, a highly
respected Business Development Company. Dr. James Clagett,
President & CEO of Ascentia Biomedical said, "This round of
funding underscores the confidence and value Winsted has in our
research and our exceptional scientific advisory board. It is a
vote of confidence that further strengthens our efforts to provide
the most comprehensive and cost-effective pharmaceutical research
and development. This expansion round should position Ascentia to
serve our customers with quality, innovative product solutions and
efficacious pharmaceuticals." About Ascentia Biomedical Corporation
Our focus is SOLUTIONS through RESEARCH and DISCOVERY. Ascentia is
developing and commercializing new pharmaceutical and biomedical
products for application in a number of areas, including treatment
for asthma, arthritis, psoriasis and cancer. Initially, a majority
of these products will be secured through direct purchase or
through licensing. As the Company grows and evolves, more products
will be developed internally. Ascentia is focused on therapies for
cancer and diseases of inflammation. For more information visit the
Company's website at: http://www.ascentiabiomedical.com/ About
Winsted Holdings, Inc. Winsted Holdings, Inc. is a Business
Development Company (BDC) located in Newport Beach, California.
BDCs are publicly traded, closed-end investment companies regulated
by the Investment Company Act of 1940. The Company was founded on
the premise that combining both operational talent and financial
talent within a single private equity investment firm can
significantly enhance the magnitude and consistency of investment
returns. Winsted Holdings' team consists of accomplished financial
professionals with experience at prestigious financial
institutions, seasoned corporate executives from various industry
enterprises and successful entrepreneurs with expertise developed
in aspects from business development to capital markets and from
sales and marketing to technology development. Certain statements
contained herein are "forward looking" statements as such term is
defined in the Private Securities Litigation Reform Act of 1995.
Because statements include risks and uncertainties, actual results
may differ materially from those expressed or implied and include,
but are not limited to, those discussed in filings by the Company
with the Securities and Exchange Commission. DATASOURCE: Ascentia
Biomedical Corporation CONTACT: Dr. James Clagett, President &
CEO of Ascentia Biomedical Corporation, +1-425-462-5686; or Jim
Drewitz, Investor Relations, +1-972-355-6070, for Ascentia
Biomedical Corporation Web site: http://www.ascentiabiomedical.com/
Copyright