NEW
YORK, June 19, 2024 /PRNewswire/ -- SMITM
CAPITAL MARKETS LTD, has announced a significant agreement with
Mid-Atlantic BioTherapeutics, Inc. (MABT), a clinical-stage ready
US biopharmaceutical company. This agreement entails a capital
commitment of USD 5 million, fueling
MABT's groundbreaking efforts to combat rabies, a currently
untreatable and highly fatal viral disease.
A Ray of Hope for Rabies Sufferers:
- Rabies, a devastating viral disease with an almost 100%
mortality rate, currently lacks any available treatment
options.
- This partnership brings a glimmer of hope to individuals
grappling with this rare and deadly disease.
- MABT's lead product, currently ready for adaptive, late-stage
clinical trials, holds the potential to be the first effective
treatment for rabies in the near future.
- MABT has already received Orphan Drug Designation for their
product and expects to qualify for a Priority Review Voucher (PRV)
upon successful clinical testing.
Key Highlights of the Agreement:
- SMITM CAPITAL MARKETS LTD. commits to providing MABT, through
an Equity Subscription Agreement ("ESA"), of up to USD 5 million for a 24-month term following the
company's public listing on the NASDAQ Stock Exchange.
- MABT retains control over the timing and maximum amount of
drawdown, ensuring flexibility in financing their development
efforts.
Driving Development Towards a Cure:
The investment proceeds will be utilized to:
- Advance the adaptive, late-stage clinical trials of MABT's lead
product for rabies.
- Accelerate the path to market approval, offering relief to
patients afflicted by this terrible disease.
- Advance MABT's other programs to meaningful inflection points
to drive value for investors.
David Jobes, Ph.D., President of
Mid-Atlantic BioTherapeutics stated, "This partnership between MABT
and SMITM CAPITAL MARKETS Ltd. represents a significant stride in
our commitment to advancing breakthrough innovations in the
healthcare sector. We are excited to advance MABT's mission to
combat rabies and contribute to the development of potentially
life-saving treatments. This collaboration underscores our
dedication to alleviating human suffering and driving positive
change in the world."
About SMITM CAPITAL MARKETS LTD.:
SMITM CAPITAL MARKETS LTD is a leading in-kind investor,
exclusively using its own resources to invest in IPOs and shares of
public companies in the technology sector, including drug
development companies starting from the pre-clinical stage. Based
in Nicosia, Cyprus, the company is
establishing a strong track record of partnering with innovative
businesses and helping them achieve their growth objectives through
strategic investments in public markets.
With a focus on long-term value creation, SMITM CAPITAL MARKETS
LTD provides its portfolio companies with capital, strategic
guidance, and access to a broad network of industry contacts. The
company's works closely with management teams of the selected
companies to develop and execute effective growth strategies,
navigate the challenges of being a public company, and maximize
shareholder value.
SMITM CAPITAL MARKETS LTD's unique approach to investing,
combined with its deep industry expertise and commitment to
excellence, has positioned the company as a trusted partner for
businesses seeking to unlock the full potential of public markets.
By supporting companies at the forefront of innovation, SMITM
CAPITAL MARKETS LTD is helping to drive progress and create a
better future.
About Mid-Atlantic BioTherapeutics, Inc. (MABT):
Founded in 2011, Mid-Atlantic BioTherapeutics, Inc. (MABT)
stands at the forefront of pharmaceutical innovation. MABT's
mission is clear: to transform the landscape of infectious disease
treatment through cutting-edge immunotherapy solutions.
MABT is not just following trends; the company is setting them.
A dedicated team of MABT scientists, clinicians, and drug
developers is focused on the clinical development and
commercialization of a groundbreaking anti-infective therapeutic
approach. Unlike traditional treatments, MABT's approach harnesses
the power of immunotherapy to combat viral diseases with
unparalleled efficacy.
One of MABT's flagship initiatives targets rabies, a
disease with significant global impact. Through relentless research
and innovation, MABT is pioneering a revolutionary treatment
paradigm that promises hope for millions worldwide.
Now, as MABT embarks on the next phase of growth, MABT is poised
to make history once again. MABT is excited to announce our pre-IPO
round very soon, paving the way for our upcoming NASDAQ listing
within the next 24 months.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/mid-atlantic-biotherapeutics-inc-and-smitm-capital-markets-ltd-enter-into-a-significant-financing-agreement-302175992.html
SOURCE Mid-Atlantic BioTherapeutics, Inc.