Skip to main content
Premium Trial:

Request an Annual Quote

Pressure Bio Closes $1.1M Tranche in Private Placement

NEW YORK (GenomeWeb) – Pressure BioSciences announced today that it has received gross proceeds of $1.1 million from an additional closing on a $5 million private placement.

Added to the July close of a $2.2 million tranche of the offering, the company has raised about $3.3 million thus far. It said that it expects one or more additional closings in "the near future."

Under the terms of the latest closing, Pressure will issue to the participating investors senior secured convertible debentures with a fixed conversion price of $.28 per restricted common share, as well as common stock purchase warrants exercisable into nearly 2 million shares of restricted common stock at an exercise price of $.40 apiece.

Pressure said it netted about $990,000 through the most recent closing, and will use the funds to expand its marketing and sales capabilities, boost its manufacturing and operational capacities, ready itself for a potential up-listing to a regulated stock exchange, and retire all variable rate convertible debt taken prior to the additional equity being raised.

The Scan

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.

Genome-Wide Analysis Sheds Light on Genetics of ADHD

A genome-wide association study meta-analysis of attention-deficit hyperactivity disorder appearing in Nature Genetics links 76 genes to risk of having the disorder.

MicroRNA Cotargeting Linked to Lupus

A mouse-based study appearing in BMC Biology implicates two microRNAs with overlapping target sites in lupus.

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.