PALM DESERT, Calif., June 8, 2017 /PRNewswire/ -- ASC Biosciences, Inc. (formerly Nevis Capital Corporation) ("ASC") (OTC Pink Open Markets: ASCW) is pleased to announce it has enter into a Letter Of Intent (LOI) with Stem Cell Development Fund to provide, on a best efforts basis, staged funding to expand operations, intellectual property development, and marketing efforts. The first tranche of funding efforts will kick off as of the trade date June 12th, 2017. The total amount of funds to be invested by the Stem Cell Development Fund is $1,544,000.00. The fund will receive 800,000 shares of ASC' common stock held in ASC's treasury. The proposed transaction will have a non-dilutive effect on ASC's existing shareholders.
About Stem Cell Development Fund
Stem Cell Development Fund LLC, recently established, is a privately held company based in Los Angeles, California, provides consultation, funding, and marketing support services to early stage healthcare companies with growth potential. Stem Cell Development Fund assists unique technology companies that demonstrate leading and disruptive technologies with funding and management consultation services.
About ASC Biosciences
ASC Biosciences, Inc. ("ASC" or the "Company") is a development stage biotechnology company that has a proprietary adult stem cell platform capable of forming nearly every tissue in the human body. These cells, Multipotent Adult Stem Cells ("MASCs"), will differentiate into cartilage, bone, tendon, muscle, ligament, fat, blood vessels, nerves, skin, etc. in humans. MASCs have apparent unlimited proliferation potential (do not reach replicative senescence) and have been shown to regenerate tissues by differentiating into the cell types at the site. MASCs lack the ability to cause a rejection response, and can thus be used allogeneically - which means that cells harvested from a single donor can be expanded in culture and the expanded cells can be used to treat hundreds, thousands, or millions of patients. ASC believes it has a sustainable competitive advantage with its MASCs. Once FDA approved, the Company's MASCs will replace the need to use autologous stem cells for therapies. The MASCs will essentially become known as "cells in a bottle", providing a specified dose of adult stem cells for specific therapies, which is an enormous advantage over harvesting cells from a patient's body. ASC intends to establish an intellectual property portfolio that will provide proprietary dominion in the repair and regeneration of all human tissues. For more information visit: http://www.ASCbio.com or @ASCbio1 on Facebook.
ASC trades on the OTC Pink Open Markets under the symbol: ASCW.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about ASC Biosciences, Inc. industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict.
Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Readers should review carefully reports or documents the Company files periodically with the OTC Markets - https://www.otcmarkets.com.
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SOURCE ASC Biosciences, Inc.