Transgenomic Announces $3 Million Convertible Note Financing
News Jan 09, 2012
“We are very pleased with the additional investment by Third Security affiliates as it increases our working capital and allows us to continue our expansion plan,” said Craig Tuttle, President and Chief Executive Officer of the Company.
Neither the Notes nor the equity securities into which the Notes are convertible have been registered under the Securities Act of 1933, as amended (the “Act”) and applicable state securities laws, but have been offered and sold in the United States pursuant to applicable exemptions from registration requirements under the Act and applicable state securities laws.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. There shall not be any sale of these securities in any jurisdiction in which such offering would be unlawful.
Animal venoms are the subject of study at research center based at the Butantan Institute in São Paulo. But in this case, the idea is not to find antidotes, but rather to use the properties of the venoms themselves to identify molecular targets of diseases and, armed with that knowledge, develop new compounds that can be used as medicines.