CAMBRIDGE, Mass.--(BUSINESS WIRE)--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 firstname.lastname@example.org 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