Mid-Atlantic BioTherapeutics, Inc. and SMITM Capital Markets Ltd enter into a significant financing agreement

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Jun 19, 2024, 10:15 ET

NEW YORK, June 19, 2024 /PRNewswire/ -- SMITM CAPITAL MARKETS LTD, has announced a significant agreement with Mid-Atlantic BioTherapeutics, Inc. (MABT), a clinical-stage ready US biopharmaceutical company. This agreement entails a capital commitment of USD 5 million, fueling MABT's groundbreaking efforts to combat rabies, a currently untreatable and highly fatal viral disease.

A Ray of Hope for Rabies Sufferers:

Rabies, a devastating viral disease with an almost 100% mortality rate, currently lacks any available treatment options.
This partnership brings a glimmer of hope to individuals grappling with this rare and deadly disease.
MABT's lead product, currently ready for adaptive, late-stage clinical trials, holds the potential to be the first effective treatment for rabies in the near future.
MABT has already received Orphan Drug Designation for their product and expects to qualify for a Priority Review Voucher (PRV) upon successful clinical testing.

Key Highlights of the Agreement:

SMITM CAPITAL MARKETS LTD. commits to providing MABT, through an Equity Subscription Agreement ("ESA"), of up to USD 5 million for a 24-month term following the company's public listing on the NASDAQ Stock Exchange.
MABT retains control over the timing and maximum amount of drawdown, ensuring flexibility in financing their development efforts.

Driving Development Towards a Cure:

The investment proceeds will be utilized to:

Advance the adaptive, late-stage clinical trials of MABT's lead product for rabies.
Accelerate the path to market approval, offering relief to patients afflicted by this terrible disease.
Advance MABT's other programs to meaningful inflection points to drive value for investors.

David Jobes, Ph.D., President of Mid-Atlantic BioTherapeutics stated, "This partnership between MABT and SMITM CAPITAL MARKETS Ltd. represents a significant stride in our commitment to advancing breakthrough innovations in the healthcare sector. We are excited to advance MABT's mission to combat rabies and contribute to the development of potentially life-saving treatments. This collaboration underscores our dedication to alleviating human suffering and driving positive change in the world."

About SMITM CAPITAL MARKETS LTD.:

SMITM CAPITAL MARKETS LTD is a leading in-kind investor, exclusively using its own resources to invest in IPOs and shares of public companies in the technology sector, including drug development companies starting from the pre-clinical stage. Based in Nicosia, Cyprus, the company is establishing a strong track record of partnering with innovative businesses and helping them achieve their growth objectives through strategic investments in public markets.

With a focus on long-term value creation, SMITM CAPITAL MARKETS LTD provides its portfolio companies with capital, strategic guidance, and access to a broad network of industry contacts. The company's works closely with management teams of the selected companies to develop and execute effective growth strategies, navigate the challenges of being a public company, and maximize shareholder value.

SMITM CAPITAL MARKETS LTD's unique approach to investing, combined with its deep industry expertise and commitment to excellence, has positioned the company as a trusted partner for businesses seeking to unlock the full potential of public markets. By supporting companies at the forefront of innovation, SMITM CAPITAL MARKETS LTD is helping to drive progress and create a better future.

About Mid-Atlantic BioTherapeutics, Inc. (MABT):

Founded in 2011, Mid-Atlantic BioTherapeutics, Inc. (MABT) stands at the forefront of pharmaceutical innovation. MABT's mission is clear: to transform the landscape of infectious disease treatment through cutting-edge immunotherapy solutions.

MABT is not just following trends; the company is setting them. A dedicated team of MABT scientists, clinicians, and drug developers is focused on the clinical development and commercialization of a groundbreaking anti-infective therapeutic approach. Unlike traditional treatments, MABT's approach harnesses the power of immunotherapy to combat viral diseases with unparalleled efficacy.

One of MABT's flagship initiatives targets rabies, a disease with significant global impact. Through relentless research and innovation, MABT is pioneering a revolutionary treatment paradigm that promises hope for millions worldwide.

Now, as MABT embarks on the next phase of growth, MABT is poised to make history once again. MABT is excited to announce our pre-IPO round very soon, paving the way for our upcoming NASDAQ listing within the next 24 months.

SOURCE Mid-Atlantic BioTherapeutics, Inc.