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Financings In Brief: ImmunoTherapeutics

Executive Summary

ImmunoTherapeutics: Fargo, N.D. company announces agreement in principle with two biotech investment funds to invest $1 mil. in exchange for 5 mil. newly issued shares of common stock. Agreement in principle is with Aries Trust and Aries Domestic Fund. Under a separate agreement with a private investor, Aries Funds agree to buy an additional 4 mil. ImmunoTherapeutics shares held by the investor. Following expected closing on June 21, Aries Funds will own 9 mil. shares of ImmunoTherapeutics stock total. Development-stage firm is investigating immunopharmaceuticals and adjuvants for cancer and other disease therapies...
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