BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

BioRestorative Therapies, Inc. Obtains $2.1 Million in 2012 Private Financing


4/10/2012 10:41:54 AM

JUPITER, Fla., April 10, 2012 /PRNewswire/ -- BioRestorative Therapies, Inc.("BRT" or the "Company") (OTCQB: BRTX), a life sciences company focused on cellular therapies for various personal medical applications, announced today that it has completed multiple rounds of private financing in 2012 totaling approximately $2,100,000. A total of approximately $1,600,000 was received as debt financing and an additional $500,000 was raised as equity.

Pursuant to the equity and note financing, the Company issued approximately 22,000,000 shares of restricted stock and 25,500,000 five year warrants to purchase BRT stock at prices between $0.03 - $0.035 per share. The debt is repayable over a period of six to twelve months with interest at the rate of 15% per annum.

"I am extremely pleased with the Company's continued growth as well as our ability to maintain consistent interest from investors and shareholders," commented BioRestorative Therapies CEO, Mark Weinreb. "This financing provides the Company with resources to further advance our previously announced initiatives."

About BioRestorative Therapies, Inc.

BioRestorative Therapies, Inc.'s goal is to become a medical center of excellence using cell and tissue protocols, primarily involving a patient's own (autologous) adult stem cells (non-embryonic), allowing patients to undergo cellular-based treatments. In June 2011, the Company launched a technology that involves the use of a brown fat cell-based therapeutic/aesthetic program, known as the ThermoStem Program. The ThermoStem Program will focus on treatments for obesity, weight loss, diabetes, hypertension, other metabolic disorders and cardiac deficiencies and will involve the study of stem cells, several genes, proteins and/or mechanisms that are related to these diseases and disorders. As more and more cellular therapies become standard of care, the Company believes its strength will be its focus on the unity of medical and scientific explanations for clinical procedures and outcomes for future personal medical applications. The Company also offers facial creams and products under the Stem PearlsĀ® brand.

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the Company's Form 10, as amended, filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the Company undertakes no obligation to update such statements.

Investor Contacts:

KCSA Strategic Communications

Philip Carlson / Josh Dver

+1 212.896.1233 / +1 212.896.1239

pcarlson@kcsa.com / jdver@kcsa.com

SOURCE BioRestorative Therapies, Inc.



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES