Pharmaceutical firm in Louisville raises $13 million
LOUISVILLE — AntriaBio Inc. (OTC: ANTB) closed a $13 million private placement transaction and plans to dose its first patient this month.
The biopharmaceutical company specializes in drug therapies for patients with diabetes and metabolic diseases.
Under the terms of financing, investors are paying $1 per share of common stock. The amount raised includes investments from two South Korean pharmaceutical companies, Aju Pharma and Ildong Pharmaceutical Co., as well as South Korean investment fund, Medici Investment Co.
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Rocky Mountain Health Plans (RMHP), part of the UnitedHealthcare family, has pledged its commitment to uplift these communities through substantial investments in organizations addressing the distinct needs of our communities.
The proceeds of the private placement will go to corporate purposes regarding the Phase 1 clinical trial of AB101, an injectable once-weekly basal insulin. Funding will also go to emerging a pipeline of candidates for patients with type 1 and type 2 diabetes.
The investigational new drug application for AB101 became effective on July 1, and the company plans to have its first in-human clinical trial and dosing the first patient with AB101 before the end of July.
