WOODBURY, Minn., Dec. 4, 2018 /Press Release/ -- InSitu Biologics, Inc., an emerging biotech company focusing on the development of AnestaGel™, has received over $2 million in investments. InSitu is believed to be in the midst of the largest Reg A+ round for a pre-revenue biotech company and anticipates investments reaching $10 million in 2019.
Since its Reg A+ launch, InSitu Biologics has sold-out of three SEC qualified price tiers. InSitu has since paused its Offering and will be submitting a new valuation and price qualification to the SEC to better reflect milestone achievements and business developments.
In pre-clinical studies, AnestaGel has proven to be a fast acting and long lasting, non-opiate painkiller, targeted for use in post-operative regional pain management and is expected to be explored for use in numerous surgical applications. Prior to the Reg A+ funding, InSitu Biologics published a peer-reviewed preclinical study in the Journal of Pain Research which found that AnestaGel:
- Consistently lasted up to 300% longer when compared to the leading liposome-based sustained-release drug;
- Had full nerve block beyond 72 hours (24-48 hours for liposome-based drug) and;
- Carried 8x more painkiller than liposome-based drugs, remaining non-toxic.
"Development of non-addictive, non-opioid pain drugs lag far behind research for other diseases," said James Segermark, President and CEO. "Addiction often begins with post-operative pain management, for which there are few non-opiate solutions. Our investors understand that a change is required."
The Securities and Exchange Commission (SEC) Qualified InSitu on July 17, 2018, to raise up to $10 million using Reg A+. Reg A+ allows private companies to raise up to $50 million from the general public over a 12 month period. The SEC qualified Form 1-A can be found here: https://www.sec.gov/Archives/edgar/data/1723443/000147793218002887/insitu_1a.htm
The Company is audited by the CPA firm of Baker Tilly Virchow Krause. The Offering Circular, and ability to make an investment reservation can be found at https://www.manhattanstreetcapital.com/insitu-biologics-0
We caution that, whether or not expressly stated, certain statements made in this news release that reflect management's expectations regarding future events and economic performance are forward-looking in nature and, accordingly, subject to risks and uncertainties. All statements other than statements of historical facts included in this release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which, in some cases, are beyond the Company's control which could, likely materially affect actual results, levels of activity, performance or achievements.