Endovo Therapeutics of Woodland Hills has reached a tentative agreement with Kodiak Capital group, LLC, which could see a welcome infusion of cash for the biotech firm if it gets the go-ahead.
The deal involves a $3m equity purchase arrangement between the two companies. Under the terms of the agreement, Endovo will file a registration statement with the SEC (U.S. Securities and Exchange Commission) that will cover Kodiak being issued any shares. Once the SEC grants permission for the firm to sell some of its stock to Kodiak, they will be able to sell up to $3m in common shares to the investment company.
The CEO and Chairman of Endovo reports that the firm is thrilled about Kodiaks interest, as it shows a confidence in the confidence and its ability to deliver a product that will be both effective and in demand.
Endovo’s main products involve noninvasive, regenerative therapies that use bioelectronics to improve and extend human life. They can help in the treatment of such medical issues as organ failure and autoimmune diseases.
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