Opexa Therapeutics Closes Private Note Offering
THE WOODLANDS, Texas--(BUSINESS WIRE)--Opexa Therapeutics, Inc. (NASDAQ: OPXA), a biotechnology company developing a novel T-cell therapy for multiple sclerosis (MS), announced the closing of a private offering of unsecured convertible promissory notes and warrants to purchase shares of common stock for gross proceeds of $650,000. Opexa expects to use proceeds from the financing to continue its Phase IIb clinical study of Tcelna™ in patients with Secondary Progressive MS (SP-MS) and general corporate purposes. Participating in the financing were new investors and existing shareholders, including a member of Opexa’s Board of Directors.
Opexa Therapeutics, Inc. is dedicated to the development of patient-specific cellular therapies for the treatment of autoimmune diseases such as MS. The Company’s leading therapy, TcelnaTM, a personalized cellular immunotherapy treatment, is in clinical development targeting both SP-MS and Relapsing Remitting MS. Tcelna is derived from T-cells isolated from peripheral blood, expanded ex vivo and reintroduced into the patients via subcutaneous injections. This process triggers a potent immune response against specific subsets of autoreactive T-cells known to attack myelin and, thereby, reduces the risk of relapse over time.
For more information, visit the Company’s website at www.opexatherapeutics.com.