Cardax Raises Additional $500K in Financing

Cardax, Inc. (OTCQB:CDXI), a Honolulu, Hawaii-based development stage life sciences company, closed on an additional $500k in equity financing.

This brings the year-to-date amount raised in its issuer-directed unit offering to $1,125,000.

These funds will support the ongoing development of CDX-085, the company’s consumer health product candidate, which has an anticipated launch date in 2016. Cardax expects to raise additional funds to further these efforts as well.

Led by CEO David G. Watumull, Cardax focuses on developing consumer health and pharmaceutical products that it believes will provide many of the anti-inflammatory benefits of steroids or NSAIDS by targeting many of the same inflammatory pathways and mediators, but with meaningful safety profiles.
Cardax is preparing proprietary nature-identical products and related derivatives by total synthesis to provide scalable, pure, and economical therapies for diseases where inflammation and oxidative stress are strongly implicated, including, but not limited to, osteoarthritis, rheumatoid arthritis, dyslipidemia, metabolic disease, diabetes, cardiovascular disease, hepatitis, cognitive decline, macular degeneration, and prostate disease.
The initial primary focus of Cardax is its astaxanthin technologies. Astaxanthin is a naturally occurring anti-inflammatory and anti-oxidant without the adverse side effects typical of anti-inflammatory treatments using steroids or NSAIDS, including immune system suppression, liver damage, cardiovascular disease risk, and gastrointestinal bleeding.
The safety and efficacy of Cardax’s product candidates have not been directly evaluated in clinical trials or confirmed by the FDA.

FinSMEs

03/07/2015

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