CHICAGO, IL and LA JOLLA, CA--(NewMediaWire - Aug 25, 2015) -
Panther Biotechnology, Inc. (OTC PINK: PBYA), a biotechnology company specializing in
the acquisition and development of enhanced therapeutics for the
treatment of neoplastic, autoimmune and antiviral disorders, today
announced that it has executed a convertible note with a strike
price of $7.50 with Chicago Venture Partners.
"After completing due diligence and analyzing our innovative
oncology portfolio as well as the pioneering candidates that
Panther is being presented, the Chicago Venture Partners investment
validates the drug candidates that Panther has chosen to develop
and commercialize," stated Evan Levine, Chief Executive Officer of
Panther Biotechnology. "This financing agreement enables the
continuation of our strategy of focusing on identifying and
developing undervalued clinical assets, including those programs
that have missed clinical endpoints, as well as bringing scientific
and medical personnel capable of running the trials and extracting
value from the assets. "
Under the terms of the transaction, Chicago Venture Partners
executed an agreement in which Panther transacted convertible
original discount notes totaling $1.215 million. The notes are
convertible at $7.50 per share subject to certain adjustments.
Chicago Venture Partners delivered an initial $220,000 and will
deliver a second $220,000 in 90 days in the event that no material
adverse changes have occurred. Chicago Venture Partners and agreed
to fund three additional tranches of $220,000 each in the absence
of any material adverse events. Panther is in negotiations with
several other groups for additional financing opportunities,
however, there is no guarantee that any additional transactions
will be consummated.
ABOUT PANTHER BIOTECHNOLOGY
Panther Biotechnology, Inc. is an entity focused on the
acquisition and development of enhanced therapeutics for the
treatment of neoplastic, autoimmune and antiviral disorders. The
Company is currently developing three clinical candidates, TRF-DOX,
which is a combination of transferrin glycoproteins with
Doxorubicin for targeted delivery to tumors with the reduction of
serious side effects, Numonafide, which is a derivative of the
widely studied anticancer drug Amonafide optimized to eliminate
toxic metabolites and reduce side effects, and TDZD-8, a kinase
inhibitor targeting cancer stem cells. Panther has recently
announced the acquisition of Alchemia Oncology Pty Ltd., which is
expected to close in the next six months upon an uplisting to
NASDAQ, NYSE, or the ASE. Panther is continuing its acquisition
strategy focusing on identifying undervalued companies and clinical
assets, including those programs that have missed clinical
endpoints, bringing scientific and medical personnel capable of
running the trials and extracting value from the assets. Panther is
also in discussions with several groups for financing support for
clinical and commercial development.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are made only as the date thereof, and
Panther Biotechnology undertakes no obligation to update or revise
the forward-looking statement whether as a result of new
information, future events or otherwise. Our actual results may
differ materially and adversely from those expressed in any
forward-looking statements as a result of various factors and
uncertainties, including the future success of our scientific
studies, our ability to successfully develop products, rapid
technological change in our markets, changes in demand for our
future products, legislative, regulatory and competitive
developments, the financial resources available to us, and general
economic conditions.
Shareholders and prospective investors are cautioned that no
assurance of the efficacy of pharmaceutical products can be claimed
or assured until final testing; and no assurance or warranty can be
made that the FDA will approve final testing or marketing of any
pharmaceutical product. Panther's most recent Annual Report and
subsequent Quarterly Reports discuss some of the important risk
factors that may affect our business, results of operations and
financial condition. We disclaim any intent to revise or update
publicly any forward-looking statements for any reason.
