CAMBRIDGE, Mass., Sept. 11, 2013 /PRNewswire/ -- Caldera Pharmaceuticals, and its subsidiary XRpro Corp, a provider of proprietary drug discovery services for high-throughput ion-channel inhibitor assays and enzyme activity assays, today announced the closing of a financing in the amount of $3,170,000 which was led by Taglich Brothers.
Gary Altman, President and CEO of Caldera Pharmaceuticals, Inc., and its subsidiary, XRpro Corp, stated, "This capital will support the expansion of our scientific staff, the purchase of scientific instruments for the development and validation of additional assays and the launch of our marketing campaign." He continued, "On behalf of the company, I thank the entire team at Taglich Brothers for their efforts and guidance."
About Caldera Pharmaceuticals (XRpro®)
XRpro® offers screening services, and assay development services, to drug discovery teams. The company offers several screens not found elsewhere including the ability to determine real-time kinetics of ion channel activity in populations of intact cells in vitro, and the high-throughput screening of approximately 10,000 compounds per day with no modifications to either the drug candidate or the target. The primary technology is based on label-free, high-throughput screening system that uses Molecular X-Ray Fluorescence.
About Taglich Brothers
Founded in 1991, Taglich Brothers, Inc. is a full service brokerage firm specializing in the microcap segment of the market for publicly traded securities. We define the microcap market as companies with less than $250 million of stock outstanding. The firm has selected this unique niche for two reasons. First and foremost, the small cap market has historically outperformed the large cap market over the past 75 years. Second, this area of the market is virtually ignored by the larger institutions and other Wall Street firms because they cannot invest enough capital in each situation to justify the expense of investigating these companies. Our focus and high energy level allow us to exploit these inefficiencies, giving us the added advantage needed to prosper in the microcap market.
Gary Altman, CEO
This release includes forward-looking statements on the Company's current expectations and projections about future events. In some cases forward-looking statements can be identified by terminology such as "may," "should," "potential," "continue," "expects," "anticipates," "intends," "plans," "believes," "estimates," and similar expressions. These statements are based upon current beliefs, expectations and assumptions and are subject to a number of risks and uncertainties, many of which are difficult to predict and include statements regarding the expected contribution of Mr. Altman and our technology. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from those reflected in the Company's forward-looking statements include, among others, our ability to sell and market our technology and services, the contribution and integration of the Company's new management and the other factors described in the Company's Report on Form 10-K for the year ended December 31, 2012 and any other filings with the SEC. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.
SOURCE Caldera Pharmaceuticals