Friday January 9, 2015 0 comments
LOUISVILLE - AntriaBio Inc. (OTCQB: ANTB), a biopharaceutical corporation focused on developing novel extended release therapies, announced it recently raised approximately $7 million in a private placement transaction.
The transaction brings to $18 million the amount the company raised through equity financings in 2014, AntriaBio said.
The company said it will use proceeds from the most recent financing for general corporate purposes, including production of cGMP material and initiation of Phase 1 clinical studies for AB101, a basal insulin with potential for once-weekly dosing for patients with type 1 and type 2 diabetes.
"Our fundraising efforts in 2014 were instrumental in advancing our clinical program for AB101," said Nevan Elam, AntriaBio's chairman and CEO.
"The confidence that our investors have shown in us is a testament to our extended release platform and the potential of AB101 to transform the $10 billion basal insulin market."