CHICAGO--(BUSINESS WIRE)--Advanced Biotherapy, Inc. (OTCBB:ADVB) announced today that it has completed the sale of common stock to Richard P. Kiphart and other new investors in the amount of $5.4 million. This investment, plus the previous $1.1 million invested by Richard P. Kiphart around August 28, 2006, completes the $6.5 million capital raise previously announced by the Company. The Company also announced the conversion of all convertible notes, other promissory notes and accrued salaries owed by the Company, except for a nominal amount which was paid out in cash. The Company has no long-term debt and has approximately $6.2 million in cash, as of October 12, 2006.
