CHICAGO--(BUSINESS WIRE)--Aug. 29, 2006--Advanced Biotherapy, Inc. (OTCBB: ADVB) announced today that it has entered into an agreement to raise $6,500,000 through a sale of stock to Richard P. Kiphart, a board member, and Christopher Capps and other related parties, at $.015 per share. In addition, Mr. Kiphart and other debt holders will convert their debt at $.015 per share resulting in Mr. Kiphart having personal control over approximately 80% of ADVB shares. Immediately following the infusion of capital, payables will be retired by both the use of cash as well as the conversion of some portion to stock at the same $.015 price. It is estimated that ADVB will be virtually debt free and have approximately $6.0 million in cash, following completion of the transaction.
