Cytonics Completes $4.8 Million Gross-Proceeds Financing Campaign
Clinical-stage biotechnology company adds approximately 900 new investors, expands its cap table to approximately 8,000, and brings total capital raised to
The financing is expected to support continued development of CYT-108, Cytonics' investigational engineered alpha-2-macroglobulin, or A2M, biologic. CYT-108 is designed to inhibit multiple classes of destructive proteases involved in cartilage degradation. The company has completed a first-in-human Phase 1 study and is advancing the regulatory, manufacturing, and clinical planning required for a Phase 1b/2a study in knee osteoarthritis.
"Every dollar in this campaign came from people who made a deliberate decision that this science deserves to advance," said
Cytonics has received more than
Individuals who wish to receive information if and when a future campaign is launched may submit a non-binding reservation at invest.cytonics.com.
About Cytonics Corporation
Cytonics Corporation is a clinical-stage biotechnology company developing therapies designed to address destructive protease activity implicated in osteoarthritis and other diseases. Its lead program, CYT-108, is an investigational engineered A2M-based biologic designed to inhibit multiple proteases involved in cartilage degradation. Cytonics' A2M platform originated with APIC, its first-generation physician-administered autologous technology for concentrating naturally occurring A2M from a patient's own blood. Learn more at cytonics.com.
Forward-Looking Statements
This press release contains forward-looking statements, including statements regarding the use of financing proceeds; the development, regulatory, manufacturing, and clinical plans for CYT-108; the timing and design of a potential Phase 1b/2a study; the potential applicability of Cytonics' technology to melanoma or veterinary uses; activities in the United Arab Emirates; and the timing or launch of any future financing campaign. These statements are based on current expectations and assumptions and involve risks and uncertainties that could cause actual results to differ materially. Cytonics undertakes no obligation to update these statements except as required by law.
Reservation Notice
No offer to buy or sell securities is being made. No money is being solicited, and if sent, it will be returned. Reservations are non-binding indications of interest and involve no obligation or commitment of any kind. Any future offering will be made only through the appropriate intermediary after the required offering statement has been filed, and prospective investors must review the applicable offering materials before investing.
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SOURCE Cytonics Corporation
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