PixarBio Corp. Announces the Opening of the Oversubscription of Stock Offering, & Extends Offering Close to September 9, 2016
August 22 2016 - 6:00AM
Business Wire
The Stock Offering Will Fund Development of
NeuroReleaseTM, a Morphine Replacement,
Non-Opiate/Opioid, Non Addictive Pain Treatment
PixarBio Corporation is pleased to announce the opening of the
oversubscription of our private placement memorandum. In order to
allow institutions to complete diligence, we are extending the
closing date of the PPM to September 9, 2016. We expect to close
the oversubscription up to $30,000,000 and to begin public trading
the second week of September.
PixarBio Corp, the inventors of NeuroReleaseTM, a non-addictive
morphine replacement for post-surgical pain treatment is in process
of merging with a public entity. We expect PixarBio to begin
trading on the OTC-QB during the second week of September. The use
of the proceeds will be to build teams and facilities to conduct
clinical studies, in order to maintain the momentum of the
NeuroReleaseTM Pain platform toward FDA approval in late 2018.
“I’ve consistently outperformed hedge funds and we appreciate
the continued support we are receiving from investors. Years ago
our R&D team set the pace to lead the Pharma sector to develop
a morphine replacement, and we’ve overachieved with NeuroRelease.
We appreciate investor interest in our company” said PixarBio CEO
Frank Reynolds. PixarBio Corporation’s PPM Offering will raise
between $20,000,000 and $30,000,000 through the issuance of
10,000,000 shares at $2.00 per share. The oversubscription maximum
to $30,000,000 is now open and will also be raised at $2.00/share.
In addition, a seven-year Warrant at $4.50 may raise an additional
$45,000,000 over the next seven years.
Interested Accredited investors under the US Securities Act of
1933 are invited to download the offering package by completing the
form in the subscription agreement offering link below:
Please click: https://pixarbio.com/welcome‐page/?accredited
Accredited investors can also email
investorrelations@pixarbio.com for details on the offering.
Clinical Team Grows along with Physician Interest In
NeuroReleaseTM
In the summer 2016, PixarBio created our Clinical Advisory
Board. We have quickly signed 7 of the top 20 knee and hip society
members in the USA as advisors to our clinical studies. Using the
FDA 505(b)(2) pathway will speed products through the FDA because
both components of our New Drug are already FDA approved with
approximately 50 years of safety data available to the FDA for
review so the safety profiles of NeuroReleaseTM are known to the
FDA. Our team comprises leaders of Hospital for Special Surgery,
Sloan-Kettering, Mayo Clinical, Cleveland Clinic, Rush-Chicago,
OrthoCarolina, Hoag-Irvine, Andrews Institute, and other top
clinical research centers.
NeuroReleaseTM Platform, non-addictive,
non-opiate pain platform
NeuroReleaseTM is a morphine strength platform, and
non-addictive pain platform for the hospital setting, for the
battlefield, or for acute and chronic pain. First product FDA
approval for the platform will be for a 14-day post-surgical pain
treatment is expected in late 2018. A major benefit of
NeuroReleaseTM is there is no effect on locomotion nerve fibers, so
patients can still control their locomotion nerve fibers movements
and move around with a morphine strength treatment that is
non-addictive. NeuroReleaseTM only effects sensory or pain
signaling nerve fibers.
"Sprinkle-On" Version of NeuroReleaseTM
Like Vancomycin, an antibiotic that is sprinkled into incisions
and wounds to reduce infection, NeuroReleaseTM can be sprinkled
into incisions and wounds to provide pain treatment. We envision
"Sprinkle On" NeuroReleaseTM, a 3-day sterile powder that can be
used in a range of non-hospital settings such as the battlefield
where the current use of morphine leads to immobilized soldiers.
Since NeuroReleaseTM does not affect locomotion fibers, soldiers
can move themselves to safety. Emergency room trauma is a logical
application in the clinic and "Sprinkle On" NeuroReleaseTM will be
a welcomed new pain treatment option for physicians performing
surgery.
PixarBio NeuroReleaseTM pain platform also includes 4-8 hour,
3-day, 7-day, 14-day and 90-Day pain treatments all have expected
FDA approvals in 2020. NeuroReleaseTM is biodegradable, and it's
non-toxic so NeuroReleaseTM can be re-injected to extend treatment
timelines. "NeuroReleaseTM represents the holy-grail of pain
treatment, and the quality of the KOL's we signed this summer to
our clinical advisory board, speaks volumes to the potential market
opportunity and to the clinical impact of NeuroReleaseTM", said CEO
Frank Reynolds.
PixarBio Corporation was awarded the Boston Business Journal's
"2016 Best Places to Work". The award recognizes PixarBio as one of
the region's best firms, offering the greatest professional
opportunities and work environments to innovate; the company is
excited to bring "Sprinkle On" NeuroReleaseTM to market in
2019.
About PixarBio Corporation
Cofounded by Frank M. Reynolds, MIT's Dr. Robert S. Langer,
Katrin Holzhaus, Dr. Jason Criscione, Haining Dai, Xi Chen, and Dr.
Amer Khalil. PixarBio researches and develops targeted delivery
systems for drugs, cells, or biologics to treat pain, epilepsy,
Parkinson's disease, and spinal cord injury. For more information
visit www.pixarbio.com
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PixarBio CorporationFrank ReynoldsChief Executive
Officer617-803-8838info@pixarbio.com