TSXV:LBL.H - Post by User
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laroplexon Sep 17, 2016 9:41am
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New Funding Paves the Way for Entry Into $2.8Billion Amnion
New Funding Paves the Way for Entry Into $2.8Billion Amnion New Funding Paves the Way for Entry Into $2.8Billion Amnion Market | Lattice Biologics Closes First Tranche of Private Placement Announced on September 13, 2016 | Thank you to our investors for such a strong and swift outpouring of support! Lattice Biologics just closed $100K in new funding for the first tranche of the private placement announced on September 13, 2016. This infusion will allow us to help countless patients with pain management and wound care. Proceeds will be used for general working capital, including funds to acquire amnion donors to begin production of Lattice Biologics' newly developed amniotic fluid for regenerative use. Lattice plans to launch its new regenerative amniotic fluid product later this year in response to a large and growing market that is currently unsatisfied. The product is a novel, targeted regenerative therapeutic aimed at osteoarthritis (OA), spine, neuro, plastic surgery, sports medicine, and foot and ankle indications. Bolstered by strong efficacy and safety data, this new product line will serve a US$2.8 billion addressable market in the United States and is projected to represent a significant increase in Lattice Biologics' annual revenue in 2017. | Lattice Opens $750K New Funding Raise as Board Member Confidence Wipes Out Debt | Lattice Biologics Announces New Private Placement and Eliminates Can$1.8 Million in Debt | New opportunity to participate in our biotech! Lattice Biologics is pleased to announce a private placement of units priced at Can$0.20 each for gross proceeds of up to US$750,000. In addition to funding working capital and securing amnion donors, the infusion of funds will also strengthen Lattice's ability to complete strategic Mergers and Acquisitions (M&A). Our management continues to investigate select M&A opportunities based on their potential to increase market share, improve technology and innovations, or expand the Company's high-margin product offerings. Lattice Biologics has identified a promising biotech start-up for acquisition, which --if the transaction is completed-- will come with important controlling and blocking patents that will provide a unique advantage and power the Company's entry into the amnion market. "Our team is thrilled to unveil a new regenerative amniotic fluid line for a wide variety of applications. The new funding will allow us to support physicians in providing their patients with an efficient regenerative medicine solution. "We have given great thought to the 27 million individuals suffering from OA pain, as well as many others who can benefit from treatment, while developing this product and we can't wait to start delivering results." - Guy Cook, Lattice Biologics CEO. | Debt Conversion into Shares | | |