An additional Equity payment of USD 250,000 (CDN 304,880) in common stock (additional shares) could be issued to Biophage based on the performance of certain assets.
This transaction remains subject to approval by Biophage shareholders and the Autorite des marches financiers, as well as NEX.
Rosemonde Mandeville is the President and Chief Scientific Officer of Biophage
The addition of Biophage PDS(R) System is a continuation of our commitment to provide the best solutions to our customers" added Mr.
Rosemonde Mandeville, President and CEO of Biophage Pharma, Inc.
Rosemonde Mandeville, President and Chief Executive Officer of Biophage Pharma.
It will be a pleasure to join the management of Biophage at this important time in the Corporation's development.
He has served as Director for ten public high tech or biotech companies, including Biophage Pharma since 2001.
With the recent financing, Biophage had $973,554 in cash and cash equivalents and temporary investments on August 31, 2004 as compared to $848,333 as at November 30, 2003.
Biophage will invest in its R&D programs in order to achieve important milestones and will continue to maintain low overhead expenses.