BALA CYNWYD, PA--(Marketwire - October 01, 2007) - Duska Therapeutics, Inc. (“Duska” or the “Company”) (OTCBB: DSKA), a biopharmaceutical company developing new medicines to treat cardiovascular disease, announced today that it has completed a $5.75 million financing from three institutional investors. The financing is in the form of two-year 10% notes, convertible into 14,375,000 shares of Duska common stock subject to adjustment as provided in the notes, 14,375,000 one-year warrants convertible into Duska common stock and 14,375,000 five-year warrants, also convertible into Duska common stock. “We are excited to complete this first financing by institutional investors. We intend to use the proceeds to develop several of our drugs to an inflection point in valuation,” stated James S. Kuo, M.D, M.B.A., Duska’s Chairman of the board of directors.
