Actinium to raise additional funding for its clinical development programs
NEW YORK, Sept. 6, 2012 /PRNewswire/ -- Actinium Pharmaceuticals, Inc. (API), a biopharmaceutical company that develops innovative targeted payload immunotherapeutics, announced today that at a General Meeting of its Stockholders held on September 5, 2012, Actinium's shareholders voted to approve all of the resolutions proposed by the Board of Directors.
Shareholders authorized a raise of up to $25 million in new funds to be used for further clinical development of Actimab-A and Iomab-B, Actinium's clinical stage drug candidates for treatment of hematologic malignancies, and continued preclinical development of additional drug candidates in solid cancer indications as well as for general working purposes. This funding round will be raised by Laidlaw & Company.
"This raise will allow us to continue our efforts in helping the patients suffering from serious forms of cancer for which there are currently very few options," said Jack Talley, Actinium's CEO. "Our drug candidates have demonstrated significant potential in ongoing trials and we expect to continue ongoing work in treating elderly acute myeloid leukemia as well as enabling otherwise untreatable bone marrow transplantation."
In addition, the shareholders authorized a public listing for the Company's shares. "In addition to providing liquidity for our investors, this transaction will increase the Company's profile in the marketplace as we pursue innovative therapies for various forms of cancer," commented Mr. Talley.
About Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. is a Newark, New Jersey based biopharmaceutical company that develops innovative alpha particle immunotherapeutics based on its proprietary platform for the therapeutic utilization of alpha particle emitting actinium-225 and bismuth-213 radiopharmaceuticals in association with monoclonal antibodies.
For more information:
Visit our web site www.actiniumpharmaceuticals.com or contact:
Jack Talley, CEO
Actinium Pharmaceuticals Inc.
Tel: (646) 459-4201
E-mail: [email protected]
Forward-Looking Statement for Actinium Pharmaceuticals, Inc.
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Actinium Pharmaceuticals undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Actinium Pharmaceuticals, Inc.