Financing to be Used for the Development of a Portfolio of Treatments for Vascular Diseases and Ischemic Injuries Using Endonovo’s Immunotronics Platform
LOS ANGELES, CA–ENDV, (Marketwired – Nov 28, 2016) – Endonovo Therapeutics, Inc. (OTCQB: ENDV) (“Endonovo” or the “Company”), a developer of non-invasive electroceuticals for the treatment of inflammatory conditions and diseases in vital organs, today announced that it has signed a term sheet with a single strategic healthcare investor for $5 million in Series B Preferred Stock financing to redeem all of its outstanding convertible notes, fund several pre-clinical studies targeting vascular diseases and ischemic injuries in vital organs and to prepare to uplist the Company’s common stock onto a national stock exchange.
The financing, subject to the signing of a definitive agreement, will be used to buy back approximately $2.2 million in Company convertible notes in order to preserve shareholder value, prevent additional dilution from the conversion of notes payable and to strengthen the Company’s balance sheet. The strategic healthcare investor is serving as lead investor in a larger $15 million proposed financing to uplist the Company’s common stock onto a national stock exchange in the first half of 2017.
Additionally, Endonovo plans to use the proceeds from the financing to fund the development of a portfolio of treatments for vascular diseases, including critical limb ischemia and ischemic ulcers, as well as treatments targeting vascular ischemia and reperfusion injuries in vital organs, including the liver, heart, kidneys, and central nervous system using the Company’s non-invasive Immunotronics™ platform. The Company is preparing to conduct the first of several pre-clinical trials in the first quarter of 2017.
The Company’s Immunotronics™ platform, which uses time variant magnetic pulses to illicit anti-inflammatory responses in cells and tissues and promotes tissue regeneration, has demonstrated significant potential in pre-clinical studies of acute inflammation and bone regeneration. Endonovo is now developing its Immunotronics™ platform to target inflammatory conditions in vital organs and for regenerative medicine.
“We are very excited to work with a strategic investor, who recognizes the value of the Company and the significant potential of our non-invasive technology in the treatment of several very large unmet clinical needs,” stated Endonovo Chairman and CEO Alan Collier.
“It is very important that we buy back all outstanding convertible notes in order to prevent dilution and preserve shareholder value. We believe that our stock is considerably undervalued,” continued Mr. Collier.
“This round of financing allows us to fund our the development of portfolio of treatments targeting vascular diseases and ischemic injuries and strengthens our financial position to uplist our common stock onto a national stock exchange in the first half of next year,” concluded Mr. Collier.
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is a leading developer of bioelectronic-applications in cell therapies and non-invasive electroceuticals. Endonovo’s Immunotronics™ platform is dedicated to treating patients with life-threatening inflammatory conditions in vital organs using proprietary non-invasive electroceutical devices. The Company’s non-invasive platform is based on magnetically-induced electrical field pathways that target the disruption of inflammation and cell death.
The Company’s Cytotronics™ platform harnesses the bulk electrical properties of cells and tissues, namely magnetically-induced electrical field pathways to expand and enhance the therapeutic potential of cell therapies and produce next-generation biologics.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.