HOUSTON, Nov. 03, 2017 (GLOBE NEWSWIRE) -- Bio-Path Holdings, Inc., (NASDAQ:BPTH) (Bio-Path), a biotechnology company leveraging its proprietary DNAbilize® antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs, today announced that it has agreed to the sale and issuance to healthcare focused institutional investors of 13,333,332 shares of common stock and warrants to purchase up to 6,666,666 shares of common stock in a registered direct offering with gross proceeds of approximately $4.0 million. The offering price per share of common stock and one-half warrant is $0.30. The warrants will be exercisable immediately, have a term of five years and have an exercise price of $0.45 per share of common stock. The offering is expected to close on or about November 6, 2017, subject to the satisfaction of customary closing conditions.
Roth Capital Partners is acting as the exclusive placement agent for this offering.
About Bio-Path Holdings, Inc.
Bio-Path is a biotechnology company developing DNAbilize®, a novel technology that has yielded a pipeline of RNAi nanoparticle drugs that can be administered with a simple intravenous transfusion. Bio-Path’s lead product candidate, prexigebersen (BP1001, targeting the Grb2 protein), is in a Phase II study for blood cancers and in preclinical studies for solid tumors. This is followed by BP1002, targeting the Bcl2 protein, which the company anticipates entering into clinical studies where it will be evaluated in lymphoma and solid tumors.
For more information, please visit the Company's website at http://www.biopathholdings.com