NEW YORK, Sept. 21, 2012 /PRNewswire/ -- Actinium Pharmaceuticals, Inc. (API), a biopharmaceutical company that develops innovative targeted payload immunotherapeutics, announced that it has engaged Laidlaw & Company (UK) Ltd. and launched a new round of fundraising that will culminate in a going public transaction.
The Company intends to raise up to $20 million in new funds to be used for further clinical development of Actimab-A™ and Iomab-B™, Actinium's clinical stage drug candidates for treatment of hematologic malignancies, and continued preclinical development of additional drug candidates in solid cancer indications as well as for general working purposes.
"With this capital raise we will be able to progress our pipeline further in terms of generating proof of concept results for our Actimab-A™ program in elderly acute myeloid leukemia and advance our Iomab-B™ program into a registration trial to enable a bone marrow transplant in patients otherwise ineligible for this curative procedure," said Jack Talley, Actinium's CEO.
Laidlaw & Company (UK) Ltd., founded in 1878, is a full-service investment banking and brokerage firm offering personalized investment advice and skillful execution to private and public institutions, as well as high net worth individual investors.
Under the proposed terms of the offering, accredited investors will receive units consisting of Company's common stock and warrants. This offering will culminate in the Company becoming a publicly traded entity on a US stock exchange targeted for later this year.
About Actinium Pharmaceuticals
Actinium Pharmaceuticals, Inc. is a New York based biopharmaceutical company that develops innovative alpha particle immunotherapeutics based on its proprietary platform for the therapeutic utilization of alpha particle emitting actinium-225 and bismuth-213 radiopharmaceuticals in association with monoclonal antibodies.
For more information:
Visit our web site www.actiniumpharmaceuticals.com or contact:
Jack Talley, CEO
Actinium Pharmaceuticals Inc.
Tel: (646) 459-4201
Forward-Looking Statement for Actinium Pharmaceuticals, Inc.
This news release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and involve risks and uncertainties, which may cause results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, product potential, or financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Actinium Pharmaceuticals undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Actinium Pharmaceuticals, Inc.