Groton, CT, June 09, 2021 –(PR.com)– PharmAbbie, Inc. is pleased to announce today that it will offer up to 3,191,489 shares of its Class D Common Stock at an offering price of $4.70 per share for an aggregate offering amount of $15,000,000. The shares will be offered to accredited investors only pursuant to Regulation D, Rule 506(c) under the Securities Act of 1933, as amended (the “Security Act”). Purchasers are required to verify their “accredited investor” status.
Incorporated in Delaware and located in Groton, Connecticut, PharmAbbie, Inc. is a late-stage companion animal pharmaceutical development company with six products in various stages of regulatory approval at the United States Food and Drug Administration’s Center for Veterinary Medicine (“FDA-CVM”). PharmAbbie focuses on four therapeutic areas, representing more than half of all veterinary prescriptions: pain and inflammation, anti-infectives, cardiovascular diseases and dermatology.
The Company intends to use the proceeds from the sale of shares in this Offering primarily as working capital for product development and regulatory approvals, including the costs of safety and efficacy studies, manufacturing of validation production batches, FDA fees, and routine general and administrative expenses. PharmAbbie has a laser focus on winning FDA-CVM approvals, and, although it cannot guarantee when the first such approval will be obtained, it believes it is 18 to 24 months away from its first FDA-CVM approval.
“We are eager to complete the development of our first products so they can benefit our companion animals,” said Serge Martinod DVM PhD, President and CEO of PharmAbbie. “By using proven drugs already approved for use in humans, but not in animals, and a platform drug delivery technology, we are creating a unique portfolio of proprietary products to advance pet healthcare.”
For additional information about PharmAbbie and to request their offering materials, please visit: www.pharmabbie.com.
About PharmAbbie, Inc. www.pharmabbie.com
PharmAbbie, Inc. develops proprietary pharmaceutical products for dogs and cats. The Company’s mission is to provide safe, efficacious and easy-to-administer drugs to improve the quality of life of companion animals and their guardians.
PharmAbbie operates in an attractive, recession-resistant and underserved market. To ensure compliance with prescribed treatment plans, veterinarians and pet owners need easy-to-administer drugs. Leading animal health pharmaceutical companies need new products to sell to their customers and are willing to acquire FDA-approved drugs at significant premiums. PharmAbbie’s strategy addresses both those unmet needs with development of a portfolio of new products based on its exclusively in-licensed FcCube soft chew technology. This patented, platform formulation technology makes highly palatable soft chews that companion animals eagerly accept, turning “pill time” into “treat time.” The proprietary FcCube soft chew manufacturing process is compatible with the FDA’s rigorous pharmaceutical manufacturing guidelines. PharmAbbie is applying its FcCube soft chew platform technology to a wide range of active pharmaceutical ingredients.
Forward Looking Statements
Certain statements in this press release constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995 and “forward-looking information” as such term is defined in applicable US and Canadian securities legislation. The words “may,” “would,” “could,” “should,” “potential,” “will,” “seek,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company. Such statements reflect the Company’s current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties, and assumptions, including, without limitation: the conditions to closing of the transaction being satisfied, including obtaining all necessary approvals for the transaction. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information or statements prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information or statement is expressly qualified in its entirety by this cautionary statement. Moreover, the Company does not assume responsibility for the accuracy or completeness of such forward-looking information or statement. The forward-looking information and/or statements included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
For further information, please contact:
Serge Martinod DVM, PhD
President and CEO
Contact via Email
Read the full story here: https://www.pr.com/press-release/837801
Press Release Distributed by PR.com