Nuclea Raises $4.48 Million in Convertible Note Financing & Secures New, Strategic U.S. Patent
Pittsfield, MA – Nuclea Biotechnologies, Inc. today announced that it has completed $4,481,250 million in convertible note financing. The notes mature in October 2014 and are convertible into the Company’s convertible preferred securities. The new funds have been raised to finance the Wilex Inc. acquisition and ongoing manufacturing and marketing activities.
Since its creation in 2005, Nuclea has raised at total of $45.7 million. The Pittsfield-based company is focused on the development, clinical validation, and commercialization of novel diagnostic and prognostic assays.
“This is an extremely exciting time for Nuclea,” said Patrick Muraca, President & CEO of Nuclea. “We have entered the commercialization stage and are building the infrastructure for that to be as successful as our development stage. Commercialization requires a push in manufacturing and marketing, so that is currently our focus.”
Additionally, today Nuclea secured a new US Patent No. 8,685,891 B2 covering a method for monitoring the progression of cancer by assaying the expression of Fatty acid Synthase (FAS) from a biological sample of the cancer patient. The patent utilizes a proprietary anti-FAS antibody developed by Nuclea. The patent protects an antibody that is a key component to all of Nuclea’s FAS tests.
This is another step in Nuclea’s development of FAS-based clinical diagnostics that advance the understanding of how cancer progresses, and its goal of developing products that convey important information to clinicians that help them provide effective treatment to their patients.
Building on the news of the FAS patent, last weekend Nuclea presented a poster, Permanent Abstract Number 4332, at the American Association for Cancer Research’s Annual Meeting. Their poster was topic was Diagnostic applications of FAS monoclonal antibodies.
Nuclea Biotechnologies, Inc. -- is headquartered in Pittsfield, Massachusetts with additional operations in Worcester and Cambridge, Massachusetts. Nuclea has developed and is commercializing unique diagnostic tests for colon, breast, leukemia, lung and prostate cancer. Nuclea also performs research leading to novel molecular oncology companion diagnostics for the pharmaceutical and biotechnology industries. http://www.nucleabio.com
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