By Lisa Kerner
Erie, Pa., May 30 - Profectus BioSciences, Inc. said it has completed a $3 million round of series A private placement of preferred stock.
The round was led by Cross Atlantic Capital Partners.
Investors purchased shares of newly issued convertible series A preferred stock and exchanged previously issued convertible notes.
Proceeds from the financing will be used to continue work on cell cycle agent technologies, investigate technologies that support the production of antiviral vaccines and generate revenue from licensing agreements.
Profectus is a Baltimore-based biotechnology company that develops preventative and therapeutic technologies to reduce the morbidity and mortality caused by viral diseases.
| Issuer: | Profectus BioSciences, Inc.
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| Issue: | Series A preferred stock
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| Amount: | $3 million
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| Investor: | Cross Atlantic Capital Partners (lead)
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| Announcement date: | May 30
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