Breast Cancer Treatment Innovator Atossa Genetics (ATOS) Adds to Scientific Advisory Board & Balance Sheet
Atossa Genetics Inc. (ATOS) a clinical-stage pharmaceutical company developing novel therapeutics and delivery methods for breast cancer and other breast conditions, announced that Carl Novina, MD, PhD, has been appointed as Scientific Advisor.
Dr. Novina is one of the leading researchers in the field of RNAi therapeutics. He is an Associate Professor of Medicine at the Dana-Farber Cancer Institute and Harvard Medical School and an Associate Member of the Broad Institute of Harvard and MIT. He is currently the Principal Investigator of the Novina Lab at the Dana-Farber Cancer Institute. His laboratory has made several important discoveries into the biology of noncoding RNAs, their dysregulation in cancers, and their development as biomedical tools.
Dr. Novina received his M.D. from Columbia University, College of Physicians and Surgeons in 2000 and his Ph.D. from Tufts University, Sackler School of Graduate Biomedical Sciences in 1998. His graduate work has resulted in 10 publications examining transcriptional regulation of TATA-less promoters. In 2014 he received the coveted National Institutes of Health Pioneer Award, which funds bold and innovative research proposals to attack challenging biomedical problems. Dr. Novina has established many collaborations between industry partners and physicians to facilitate his goal of bringing biomedical innovations from bench to bedside.
Dr. Steve Quay, President and CEO of Atossa Genetics stated, “We are delighted to welcome Dr. Novina to our Scientific Advisory Board which is composed of world-class experts in Breast Cancer research. Dr. Novina’s immunology expertise will be invaluable as we develop our proprietary microcatheters for delivery of CAR-T cell therapies for the treatment of the deadlier forms of breast cancer.”
Earlier this week, Wednesday, December 20, 2018 Atossa also announced that it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $1.4 million of its common stock in a registered direct offering and concurrent private placement. Under the terms of the purchase agreement, Atossa has agreed to sell approximately 5.3 million shares of its common stock. In a concurrent private placement, Atossa has agreed to issue Class A and Class B warrants to purchase up to approximately 5.3 million shares of common stock each. The warrants will be exercisable six months following the date of issuance and have an exercise price of $0.315. The warrants cannot be exercised on a cashless basis unless there is no effective registration statement covering the common shares issuable upon exercise of the warrants. The Class A and Class B warrants will expire on the 8-month and 12-month anniversary of the initial issuance date, respectively. The combined purchase price for one share of common stock, one Class A warrant and one Class B warrant will be $0.27. The gross proceeds to Atossa from the registered direct offering and concurrent private placement are estimated to be approximately $1.4 million before deducting the placement agents’ fees and other estimated offering expenses. The registered direct offering and concurrent private placement is expected to close on or about December 22, 2017, subject to the satisfaction of customary closing conditions. Maxim Group LLC acted as sole placement agent for the offering. The common stock being sold pursuant to the registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-220572), previously filed with the Securities and Exchange Commission (the “SEC”) on September 22, 2017 and declared effective on October 5, 2017. Such securities are being offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. The Class A and Class B warrants, along with the underlying common stock have not been registered under the Securities Act of 1933, as amended.
To learn more about Atossa Genetics (ATOS) and to track its ongoing progress, please visit the Vista Partners Atossa Genetics Coverage Page.