Oragenics will receive an equity financing of $2.6 million. The definitive agreement consists of common stock at $0.45 per share and warrants with an exercise price of $1.30 per share. Funding is expected to finalize by June 12.
Oragenics includes products and supporting platform technologies for the treatment and diagnosis of human infections. “This capital will help the company to begin generating revenue from our Probiora3 oral health product, to accelerate our efforts to develop and commercialize our proprietary DPOLT antibiotic platform, to test our SMaRT Replacement Therapy product for the elimination of tooth decay, to market our LPT3-04 weight loss product, and continue the development of our unique diagnostic platforms, IVIAT and CMAT, as well as other uses,” remarks Stanley B. Stein, the company's president and CEO.
IVIAT and CMAT are related technologies used to identify gene targets associated with the onset and progression of infections, cancers, and other diseases in humans and other organisms including plants.