VANCOUVER, BC--(Marketwire - April 20, 2010) - CAG Capital (now Stellar Biotechnologies, Inc.) (
The Company's shares resumed trading 4/19/10 -- symbol KLH on TSX-V.
The Company completed a private placement of 11,397,732 Units at CDN $0.28 per Unit for CDN $3,191,364.96. Each Unit is one common share and one 1/2 warrant, each warrant for purchase of a common share at $0.40 until October 9, 2011. The brokered portion was completed through Bolder Investment Partners.
The securities issued in the Private Placement are subject to a 4 month hold period expiring 8/9/10.
The Company continues Stellar's business, owning a revenue generating company with customers and research partners, $6 million in research already conducted with NIH and NSF grants, a portfolio of intellectual property (IP) involving aquaculture and marineculture, and technology for producing pharmaceutical formulations of KLH -- http://en.wikipedia.org/wiki/Keyhole_limpet_hemocyanin -- that sell for from $5,000 - $200,000 per gram into the medical, academic and research markets. KLH is an essential component for many cancer vaccines and "therapeutic vaccines" -- http://www.cancer.gov/cancertopics/factsheet/Therapy/cancer-vaccines -- including for rheumatoid arthritis, lupus, Post Traumatic Stress Disorder and chemical dependencies.
All issued and outstanding shares of Stellar were acquired for 10,000,000 shares of the Company; certain shares will be subject to escrow in accordance with the policies of the TSX Venture Exchange. Another 10,000,000 shares are reserved for issuance to key individuals upon the achievement of certain milestones.
Stellar's Technology
Stellar's IP includes patent, patent pending and key trade secrets related to KLH and the rare keyhole limpet -- http://www.oceanlight.com/lightbox.php?sp=megathura_crenulata -- (only found off Baja and California); non-lethal hemolymph extraction and manufacturing methods for various formulations of the KLH molecule used in pharmaceutical and veterinary markets as a powerful immune stimulant and vaccine carrier protein.
Stellar's Business Model
- Develop further Keyhole Limpet IP
- Advance KLH IP
- Market and sell Stellar's formulations of KLH and promote use within academic, research, pharmaceutical, biotech and medical diagnostic markets
- Alone and in partnership sell KLH-based products for the medical diagnostic and therapeutic markets.
Stellar's Key Employees
Frank R. Oakes, President & CEO --
http://www.nsf.gov/awardsearch/showAward.do?AwardNumber=0848952
Daniel E. Morse, Ph.D.,VP, Science & Technology --
http://www.lifesci.ucsb.edu/mcdb/faculty/morse/
Darrell Brookstein, VP, Business Development & Finance --
http://www.nanotechnology.com/commentary/?a=bio&ida=282
The above release has been edited, the full version can be found below:
Complete release -- http://www.nanotechnology.com/news/?id=12753
Stellar information -- http://www.stellarbiotechnologies.com/contact/
Contact Information:
Contact:
Darrell Brookstein, VP
California
858 449 2523
DBrookstein@StellarBiotech.com