SAN ANTONIO--(BUSINESS WIRE)--Oncovista Innovative Therapies, Inc. (OTCBB: OVIT) (“Oncovista or the “Company”) is pleased to announce it has received bridge financing from two funding sources recently. One funding source is Chicago Venture Partners of Chicago, IL, and the other is a high net worth individual. The funding will speed up the process of getting the company operational again. This was step one in the financing process, with a larger equity financing being the second step the company needs for continuation of clinical trials. The Company is working on a much larger equity deal for the funding of both trials.
“We are pleased to report the first step in the financing process by procuring bridge financing from two funding sources. We continue to work to obtain a much larger financing that will ultimately meet the needs of both of our ongoing clinical trials.”
CEO Alexander Weis stated, “We are pleased to report the first step in the financing process by procuring bridge financing from two funding sources. We continue to work to obtain a much larger financing that will ultimately meet the needs of both of our ongoing clinical trials.”
About Oncovista
OncoVista Innovative Therapies, Inc. a biopharmaceutical company develops targeted anticancer therapies by utilizing tumor-associated biomarkers. Its oncology drug candidate pipeline includes Cordycepin (OVI-123), which is in Phase I/II clinical trials for the treatment of Refractory TdT Positive Leukemias; and L-Nucleoside Conjugates (OVI-117) that is under clinical development for the treatment of Colon Cancer. The company was founded in September 2004 and is based in San Antonio, Texas.
Contacts
Oncovista Innovative Therapies, Inc.
Alexander L. Weis, Ph.D., 210-863-6813
Chief Executive Officer
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