Newark, NJ (PRWEB) October 12, 2011
Actinium Pharmaceuticals, Inc., a leader in the field of alpha radioimmunotherapy for treatment of advanced cancers, is pleased to announce that it has successfully completed a first closing of $4.1 million in its Series E Financing, for which Laidlaw & Company (UK) Ltd. is exclusive placement agent. Funding will be used primarily for further development of Actimab-A, Actinium’s lead drug candidate in multicenter Phase I/II trials in Acute Myeloid Leukemia (AML) and to expand the company’s Alpha Particle Immunotherapy Technology (APIT) platform into other cancer indications.
Dr. Dragan Cicic, President and CEO of Actinium, said: “This is an important step towards accelerating our clinical development and bringing this technology to the patients in dire need of new treatments. The AML patient population we will be targeting in this trial currently has a median survival of less than 2 months. We will also be able to expand our technology into additional cancer indications using our ‘biobetter’ strategy and help a greater number of patients facing limited options at this time.”
About Actinium Pharmaceuticals:
Actinium Pharmaceuticals is an oncology focused biotechnology company. The Company’s Alpha Particle Immunotherapy Technology (APIT) couples monoclonal antibodies (mAbs) with extremely potent but comparatively safe alpha particle emitting radioactive isotopes, in particular Actinium 225 and Bismuth 213. The final drug construct is designed to specifically target and kill cancer cells while minimizing side effects. Alpha emitters are the most powerful killing agents in existence, with a single atom capable of destroying a cancer cell. At the same time, they do not damage surrounding healthy tissues. API’s technology and products are protected by an extensive intellectual property estate of 68 patents - 17 U.S. and 51 International. (Source: http://www.actiniumpharmaceuticals.com)
About Laidlaw & Company, LTD.
Laidlaw & Company is a full service investment bank and securities brokerage firm with offices in New York, London, San Francisco and select additional locations. Its corporate finance efforts are focused on the healthcare, natural resource and social commerce sectors. In addition to capital raising, its investment banking arm provides M&A, restructuring and other financial advisory services for public and private small cap and middle market clients across a broad cross-section of industry sectors. Its brokerage arm provides wealth management services for domestic and international high-net-worth and institutional clients. Laidlaw is authorized by the FSA in the United Kingdom, and is regulated by FINRA in the United States. (Source: http://www.laidlawltd.com).
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Any statements contained herein that do not describe historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward looking statements. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
For more information, contact: Dragan Cicic, M.D., MBA
President and CEO
Actinium Pharmaceuticals, Inc.
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