LOS ANGELES, CA–(Marketwired – Mar 14, 2016) – Endonovo Therapeutics, Inc. (OTCQB: ENDV) (“Endonovo” or the “Company”), an innovative biotechnology company developing bioelectronics-based products and therapies for regenerative medicine, announced today a number of corporate developments.
Endonovo Therapeutics recently repurchased $154,303 in convertible notes preventing additional shareholder dilution. “We remain committed to preserving shareholder value while positioning the Company to attract institutional investors,” stated CEO, Alan Collier. “We intend to repay the remaining outstanding convertible notes over the coming months and commence our pre-clinical work on the liver.”
Endonovo’s technology was previously shown to reduce acute inflammation in a Carrageenan Rat Footpad Edema (CFE) protocol, which is the drug/pharmaceutical industry gold standard for the initial screening of drugs and their effects on acute inflammation.
“We are now looking to evaluate the effectiveness of our technology in the treatment of acute inflammatory conditions in the liver, such as acute liver injury,” stated Endonovo Chief Medical Officer Dr. Leonard Makowka M.D., PhD.
Additionally, the Company has filed to withdraw its S-1 from registration of all the remaining shares under the Equity Purchase Agreement with Kodiak Capital, including 215,000 “Commitment Shares” issued to Kodiak Capital pursuant to the Equity Purchase Agreement.
Furthermore, Endonovo has notified COR Clearing, LLC of its obligation to return to the Company a total of 1.89 million unpaid shares from the Equity Purchase Agreement with Kodiak Capital.
“We have an obligation to protect the interests of our shareholders as well as the Company’s credibility and ensure no unscrupulous activity occurs with regard to our stock,” stated Endonovo CEO, Alan Collier. “We have been concerned about our stock activity for some time and believe removing these shares from the market may provide a solution and help ensure an efficient trading market for our stock.”
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is an innovative biotechnology company developing bioelectronic devices and therapies for regenerative medicine. Endonovo’s Immunotronics™ platform is a non-invasive, non-implantable bioelectronic device for treating/preventing vital organ failure through the reduction of inflammation, cell death and the promotion of regeneration. Endonovo’s Cytotronics™ platform provides for a method of expanding and manipulating cells using simulated microgravity and Time-Varying Electromagnetic Fields (TVEMF) for tissue engineering and cell therapies. The Company’s initial concentration is on the treatment of acute and chronic inflammatory conditions of the liver using its proprietary Immunotronics™ platform.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.