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Immune Therapeutics Announces Financing and Debt Restructuring Plan
iCrowd Newswire
03 Jun 2021, 02:30 GMT+10
Orlando, Florida, June 02, 2021 Immune Therapeutics Inc. (OTC-PINK: IMUND) (the Company ) announced today that the Company has received and signed a non-binding term sheet to enter into an agreement that would provide working capital and wipe out a significant portion of its long-standing Debt.
The Company received the term sheet from existing Immune Shareholders to provide the funds necessary to complete the restructuring of Immune. According to the agreement, the investors will lend a minimum of $700,000 and a maximum of $1,500,000 to the Company in exchange for non-convertible promissory notes bearing interest at 5%.
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NATICK, Mass., May 25, 2021 /PRNewswire/ AffyImmune Therapeutics, Inc., a clinical stage biotechnology company finding safe, effective ways to use CAR T cells against solid cancers, announced today that co-founder and CEO Dr. Moonsoo Jin was awarded a Research Project Grant (R01). The grant,
CAR T Cells for Advanced Thyroid Cancer, will contribute to supportive studies related to AffyImmune s Phase 1 clinical trial,
Study of AIC100 in Relapsed/Refractory Thyroid Cancer at Weill Cornell Medical College in New York, New York.
Dr. Jin commented, The primary challenge in the CAR T field is balancing efficacy and toxicity. This grant allows us to continue our work in striking that balance to treat solid tumors by iterating from bench to bedside. In doing so, we can potentially develop the most effective CAR T therapies for solid tumors.
AffyImmune Co-founder Dr Moonsoo Jin Receives Highly Selective R01 Grant from NCI prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.