Viral Genetics, Inc. (OTC BB: VRAL), a drug development company developing a biological therapy for the treatment of HIV infection, today announced that it sold 10% Senior Secured Convertible Debentures in the aggregate principal amount of $2.9 million, together with warrants to purchase 6.4 million shares of common stock over a period of five years at an exercise price of $0.78 per share and unit warrants to purchase up to $2.1 million of additional debentures and additional warrants to purchase 4.7 million shares. Viral Genetics received the first $2.5 million of gross proceeds of the offering, and the remainder is expected within the week.
