|[April 23, 2012]
Aggredyne Closes $3 Million Series A Financing
HOUSTON --(Business Wire)--
Aggredyne, Inc., a Houston-based biomedical diagnostics company that is
defining a new standard for platelet function testing, sold out and
closed a $3 million Series A convertible preferred stock financing.
The company will use the funds to complete its product line development,
establish manufacturing processes, address the company's regulatory and
commercial goals, and begin international sales.
Aggredyne is also preparing to file with the Food and Drug
Administration a 510(k) for clearance to market its initial product, the
AggreGuideTM A-100, and related blood platelet testing. The
AggreGuide is a patented, simple, inexpensive, laser-light-scattering
platelet aggregometer that quickly analyzes a patient's responsiveness
to his anti-platelet medication.
The technology was invented by researchers affiliated with the Utah
Artificial Heart Institute and originally licensed from Brigham Young
University to Thrombodyne, Inc. in Salt Lake City. Aggredyne has now
acquired the worldwide, exclusive rights to the patents and technolgy,
which had been previously licensed to ThromboVision, Inc.
"We believe this state-of-the-art technology is so important to patients
that we really needed to find a way to make it available to the medical
community," stated Chairman & CEO Edward R. Teitel, MD, JD. "That's why
we will file for regulatory clearance, in the U.S. and abroad, to allow
us to offer our device to the physicians' offices and clinics, so
doctors can easily monitor the effectiveness or resistance of
President & COO Robert C. Hux, CPA, added, "The funds we raised will
allow us to staff up to complete the product development, prepare the
FDA filings, and begin offering the AggreGuide worldwide."
Paul Pryzant, of Burleson, LLP's Houston office, served as legal counsel
Aggredyne, Inc. (www.aggredyne.com),
is a biomedical company founded in 2011 by Edward R. Teitel, MD, JD, and
Robert C. Hux, CPA, to commercialize the AggreGuideTM
platelet function analyzer. The AggreGuide system is an in-vitro
diagnostic test that measures how sticky a patient's platelets are and
how well the patient is responding to antiplatelet medications such as
aspirin or Plavix® (clopidogrel), Effient®
(prasugrel) and Brillinta® (ticagrelor).
SAFE HARBOR STATEMENT
This release contains forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Statements in this
release regarding Aggredyne's business that are not historical facts are
"forward-looking statements," which involve risks and uncertainties that
could cause actual results to differ materially from any future results,
performance, or achievements expressed or implied by such statements.
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