El Paso-based biopharmaceutical company Premier Biomedical today announced that it has retired in full its outstanding liabilities, thanks to an equity funding arrangement with Kodiak Capital Group. The arrangement, announced in December 2013, also provides Premier Biomedical sufficient capital to fund current on-going and mid-term research and development.
A research-based company, Premier Biomedical focuses on developing and commercializing innovative immune-system manipulation therapies for breast cancer, as well as potential novel therapies for Alzheimer’s disease, multiple sclerosis (MS), and traumatic brain injury, working in collaboration with the University of Texas at El Paso and US Department of Defense.
Headquartered in Newport Beach, California, Kodiak is an institutional investor who makes private investments in public and private entities utilizing proprietary equity and debt instruments, in order to provide long-term strategic capital. Although Kodiak’s investments cover a wide range of industries, the institute focuses on energy, consumer products, life sciences, natural resources, and social media technology.
William A. Hartman, Premier Biomedical CEO, says they are “extremely pleased” to move forward with their research and development program, since they recently received positive results from duplicate studies on our their most recent breast cancer treatment, which, according to Hartman, will be formally presented to the American Association for Cancer Research (AACR) annual meeting in San Diego, in April.
“While funding innovative research is a challenge regardless of the industry, our progress toward our goals has been recognized by a global capital investment firm,” he said. “We are in a strong position to focus on the future along with our partners in R&D, the Department of Defense with Center of Expertise at the William Beaumont Army Medical Center and the University of Texas at El Paso, and the acceleration of our research to bring successful treatments to market for many of today’s most dreadful diseases.”
Note: Premier Biomedical notes that the statements contained in its press release are “forward-looking statements”, based on estimates and opinions of management, and makes no guarantee of future performance. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. Premier Biomedical undertakes no obligation to revise these statements following the date of this article.