Premier Biomedical Secures $5 Million Equity Funding From Kodiak Capital Group, LLC
Published: Dec 16, 2013
EL PASO, TX--(Marketwired - December 16, 2013) - Premier Biomedical, Inc. (OTCBB: BIEI), a biopharmaceutical company focused on developing and commercializing innovative immune-system manipulation therapies for breast cancer, as well as novel therapies for Alzheimer's disease and traumatic brain injury, announced that it has entered into a $5 million common stock purchase agreement with Kodiak Capital Group, LLC, a Newport Beach-based institutional investor. The company has agreed to file a registration statement with the U.S. Securities & Exchange Commission ("SEC") covering the shares that may be issued to Kodiak under the terms of the common stock purchase agreement. After the SEC has declared the registration statement related to the transaction effective, the company has the right at its sole discretion over a period of one year to sell up to $5 million of common stock under the terms set forth in the agreement.
Proceeds from this transaction will be used to advance Premier Biomedical, Inc.'s research and development programs, including a pipeline of oncology candidates for breast cancer treatments. In a study with laboratory mice conducted earlier this summer, a lead breast cancer drug candidate outperformed chemotherapy and yielded much better results -- smaller tumor volume, a much lower mortality rate and increased subject weight gain. This study was again duplicated months later in the laboratory with a recurrence of similarly exceptional results. In addition to confirming previous results, the results of this study were significant in that no mice treated with Premier Biomedical, Inc.'s therapy developed metastatic disease, the leading cause of death among human breast cancer patients.
"Through our rapidly accelerating program progress made in conjunction with our two partners in research and development, the University of Texas at El Paso and the US Department of Defense, towards the development of desperately needed treatments for cancer, TBI, PTSD, and Alzheimer's disease, we've never been more excited about the breadth of Premier Biomedical's portfolio of therapeutic candidates," said William A. Hartman, President and Chief Executive Officer of Premier Biomedical, Inc. "This financing will provide the resources to massively accelerate all of our programs, including testing of three humanized breast cancer drug candidates, each with distinct mechanisms of action that operate synergistically, and to accelerate our planned testing programs on larger animals and subsequent human clinical trials in FY 2014. This infusion of capital, provided at terms found by the Company to be very favorable, will accelerate the timetable for the development of commercially available drugs for patients suffering from these terrible diseases. We're very excited to be partners with Kodiak and welcome their investment with open-arms."
"We are enthusiastic to welcome Premier to our emerging life science portfolio; despite the technical constraints of their industry, they are incredibly well managed, and have assembled a team with the desire to achieve their dream of helping patients," said Ryan Hodson, Managing Director of Kodiak. "Quite simply, the preliminary test results are there and the company's prospects for development are very encouraging. We are proud to be associated with what is real progress, particularly as it fits so well with our oncological focus, and look forward to supporting the growth of their business."
About Premier Biomedical, Inc.
Premier Biomedical, Inc. is a research-based company that intends to discover and develop medical treatments for humans, in collaboration with the University of Texas at El Paso and US Department of Defense, specifically targeting the treatment of Alzheimer's disease, Fibromyalgia, Multiple Sclerosis, Traumatic Brain Injury, Amyotrophic Lateral Sclerosis (ALS/Lou Gehrig's Disease), Blood Sepsis and Viremia, and Cancer. Premier has licensed the technology behind multiple provisional patents in the United States and a PCT Europe National Patent in the areas of Cancer, Sepsis, and Multiple Sclerosis. Founded in 2010, Premier is headquartered in El Paso, Texas, with business offices in Pennsylvania. The Company's common stock trades on the fully reporting Over-The-Counter Bulletin Board under the ticker symbol "BIEI." http://www.premierbiomedicalinc.com/.
About Kodiak Capital Group, LLC
Kodiak is an institutional investor headquartered in Newport Beach, CA. Kodiak makes private investments in public and private entities utilizing proprietary equity and debt instruments. These investments provide long-term strategic capital offering companies certainty, flexibility and consistency. Kodiak's investments are in a wide range of industries emphasizing alternative energy, consumer products, life sciences, natural resources, and social media technology. For more information, visit www.kodiak-capital.us.
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Premier Biomedical, Inc. cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Premier Biomedical, Inc. undertakes no obligation to revise these statements following the date of this news release.
Premier Biomedical, Inc.
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