LONDON - October 26, 2020 - (Newswire.com)
Bioneb Pvt (Bioneb) announced that it has signed an agreement with GEM Global Yield LLC SCS ("GEM"), the New York based private alternative investment group to provide Bioneb up to GBP £ 220 million over a 36-month term. Bioneb will use the funds to continue its research and development of its FDA-approved ultrasonic vibrating mesh drug delivery devices, medical formulations and FDA clinical trials. The company will also increase manufacturing of the devices at the FDA approved Vietnamese and Taipei facilities. Simultaneously there will be an increase in the production, distribution and marketing of the formulations at the Netherlands, Canadian and Californian facilities.
Bioneb Pvt. will control the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation. Bioneb will issue warrants to GEM to purchase up to nine point nine per cent (9.9%) of the outstanding common stock of the company on a fully diluted basis. The warrants will have an exercise price per share equal to the pro rata portion of GBP 300 Million valuation for the company. Bioneb Pvt will pay a fee equal to two per cent (2%) of the size of capital commitment within a period of twelve months.
"This agreement with GEM helps to secure funding for continued growth and development of the company as we attempt to bring to market our breakthrough Covid suppressant formulation which is having remarkable results in suppressing and eliminating the Covid Virus if used in the early stages of any infection. The proven results, case studies, time kill graphs and curves show that Bioneb's patent pending anti-viral formulation eliminates any virus and bacteria when inhaled with the drug delivery device or disbursed into built in environments such as schools, offices or mass transport systems using the same technology in a sub-micron diffuser distribution unit," stated Mr. Nick Havercroft, CEO and Founder of Bioneb Pvt.
About The GEM Group:
Global Emerging Markets ("GEM") is a $3.4 billion alternative investment group based in Paris, New York and Los Angeles. GEM manages a diverse set of investment vehicles focused on emerging markets that provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.
About Bioneb Pvt.:
Bioneb UK and its subsidiaries are a biotech company which has developed and patented ultrasonic vibrating mesh technology drug delivery devices for the most efficient delivery of drugs via the pulmonary tract. The company has also developed and patented various medical and non-medical formulations for use in areas such as diabetes, opioid addiction, migraine treatment, biologics, nicotine replacement therapy, alcohol addiction, weight loss and the numerous potential uses of medical marijuana and CBD. Research in outsourced laboratories, medical facilities and universities is ongoing. Bioneb is also leading the research and applications for disbursing formulations into built in environments using their sum micron micro diffuser systems for the control of harmful viruses such as Covid 19, bacteria and moulds. The company to date has been privately funded by its founder and CEO Nick Havercroft.
This release may contain "forward-looking" statements, as that term is defined in the Private Securities Litigation Reform Act of 1995 or by the SEC in its rules, regulations and releases. These forward-looking statements include, among other things, statements of plans, objectives, expectations or intentions. Forward-looking statements involve risks, uncertainties and assumptions and actual results may differ materially from those expressed in these forward-looking statements. You should not put undue reliance on any forward-looking statements in this communication. We do not have any intention or obligation to update forward-looking statements after the date of this communication, except as required by law.
+44 7502 687737
Related Links https://www.bioneb.com
Press Release Service by Newswire.com
Original Source: Bioneb Pvt Secures GBP £ 220 Million Capital Commitment From the Gem Group