SOURCE: Entia BioSciences

November 13, 2013 12:28 ET

Entia Biosciences Closes Series A Financing

SHERWOOD, OR--(Marketwired - Nov 13, 2013) - Entia Biosciences (Entia) (OTCQB: ERGO), a food science biotechnology company and an emerging leader in the field of Nutrigenomics, announced today that it has successfully closed its $1,500,000 Series A Convertible Preferred offering with significant participation from new investors. Leading the round were investments from members of the Company's board of directors and investment banker, who collectively purchased more than 25% of the total offering. Proceeds have been used for working capital, clinical research, product development, and build-out of the Company's certified organic manufacturing processes.

"This funding has allowed us to expand our team and production capabilities during this critical stage of our development," says Dr. Marvin Hausman MD, Chairman and CEO of Entia. "We are excited about the positive results we are seeing in the clinical studies of our medical foods for anemia and neurodegenerative diseases and are now in a position to meet the expected demand for these products in the marketplace. The ability to do in-house extraction, enhancement, and formulation of our food-based nutrients has significantly enhanced our margins, quality control, and timely shipments of finished goods and we thank all of our Series A investors for making this possible."

About Entia Biosciences, Inc.

Entia is an authority on the clinical effects of oxidative stress and free radical reactions and is bringing this expertise to the fields of food science biotechnology and Nutrigenomics. The Company identifies, scientifically validates, patents, and commercializes solutions that address multi-billion dollar markets for health, beauty and agriculture.

Any statements contained in this press release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties including, but not limited to, the risks associated with the transaction described in this press release, and other risks identified in the filings by Entia Biosciences with the Securities and Exchange Commission. Further information on risks faced by the Company and its shareholders are detailed in the Form 10-K for the year ended December 31, 2012 and in its subsequent Quarterly Reports on Form 10-Q. These filings are or will become available on a website maintained by the Securities and Exchange Commission at http://www.sec.gov. The information contained in this press release is accurate as of the date indicated. Actual results, events or performance may differ materially. Entia does not undertake any obligation to publicly release the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Contact Information

  • For more information, please visit our web sites at www.entiabio.com or contact:

    Devin Andres
    Chief Operating Officer
    Entia Biosciences, Inc.
    13565 SW Tualatin-Sherwood Rd
    Sherwood, OR, 97140
    Phone: 503-334-3575
    Email: info@entiabio.com