MissionIR News – VistaGen Therapeutics Secures $3.25 Million Financing and Completes $3.0 Million Debt Restructuring

Substantial improvement of balance sheet and added growth capital positions company to capitalize on commercial opportunities.

Atlanta, GA (PRWEB) October 17, 2012

In the companys news yesterday,

VistaGen Therapeutics announced the completion of the previously announced $3.25 million financing commitment with Platinum Long Term Growth VII, LLC (Platinum) and approximately $3.0 million strategic debt restructuring. The combined transactions involve the companys three largest institutional shareholders and its patent counsel.

Today marks a significant turning point for VistaGen. These transactions represent a tremendous vote of confidence by four of our major stakeholders and position us to realize the full measure of our commercial opportunities involving our stem cell technology platform and AV-101 clinical program, stated Shawn K. Singh, VistaGens Chief Executive Officer.

Our expectations are set very high. Over the next 12 months, we plan to achieve multiple transformative milestones, both in the lab and in the clinic. This funding provided by Platinum, combined with our strategic equity-based restructuring transactions with Cato Research, Morrison & Foerster and University Health Network, will be instrumental in our success, concluded Mr. Singh.

Allen Cato, M.D., Ph.D., co-founder and Chief Executive Officer of Cato Research, commented, By more closely approximating human biology, VistaGens stem cell-based bioassay systems can improve the predictability of the drug development cycle and lower the cost of new drug research and development. We are pleased to support VistaGens efforts to transform the drug development process and to bring safer, more effective therapies to market.

Michael Goldberg, M.D., Portfolio Manager of Platinum Long Term Growth VII, added, VistaGen has been, and continues to represent, an excellent investment opportunity for Platinum. Our continued commitment toward supporting VistaGen underscores our confidence in the Companys novel stem cell technologies and AV-101.

Investors who wish to obtain further information regarding these transactions should view the companys Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission (SEC).

About MissionIR

Here is the original post:
MissionIR News - VistaGen Therapeutics Secures $3.25 Million Financing and Completes $3.0 Million Debt Restructuring