ENDRA Life Sciences Completes $8.1 Million Private Placement

ENDRA Life Sciences Completes $8.1 Million Private

ANN ARBOR, Michigan - December 11,

Life Sciences Inc. ( ENDRA )

(NASDAQ:NDRA), the pioneer of Thermo Acoustic Enhanced UltraSound

(TAEUS ), today announced that it

has closed an $8.1 million private placement of its Series A Convertible Preferred Stock

( Preferred Stock ), common stock and warrants to

purchase common stock ( Warrants ). ENDRA intends to

use the net proceeds for working capital and general corporate

purposes, including to support its commercialization initiatives

and ongoing clinical studies.

The company used approximately $1.9 million of net proceeds from

the offering to repay debt represented by convertible promissory

notes issued in July 2019. Remaining net proceeds from the offering

were approximately $5.4 million, after deducting estimated fees and

The company issued Warrants exercisable for approximately 8.2

million shares of common stock. Assuming an effective registration

statement on file, the Warrants are exercisable only for cash and

have a forced exercise feature in the event that the daily volume

weighted-average closing price of the company's common stock

averages over $1.74 for a 10-trading day period. This represents

potential additional proceeds of approximately $7.1

Several members of ENDRA's senior management team and board

of directors, alongside existing investors of ENDRA, participated

in the offering. Lake Street Capital Markets, LLC acted as

ENDRA's exclusive placement agent for the

This was a transformative financing for the company as we

believe that we are now capitalized through the anticipated

regulatory approvals and initial commercialization of the TAEUS

liver device. We would like to thank our investors for their

continued support and belief in the promise of our TAEUS

technology, said Francois Michelon, ENDRA's Chief

The securities sold in the private placement have not been

registered under the Securities Act of 1933, as amended, or state

securities laws as of the time of issuance and may not be offered

or sold in the United States absent registration with the

Securities and Exchange Commission or an applicable exemption from

such registration requirements.

Further details regarding this private placement, including further

description of the terms of the Preferred Stock and Warrants, can

be found in ENDRA's Form 8-K filed with the Securities and

Exchange Commission on December 11, 2019.

About ENDRA Life Sciences Inc.

ENDRA Life Sciences is the pioneer of Thermo Acoustic Enhanced

UltraSound (TAEUS ), a ground-breaking technology being

developed to visualize tissue like CT or MRI, but at

the cost, at the point of patient care. TAEUS is designed to work

in concert with the over one million ultrasound systems in use

globally today. TAEUS is initially focused on the measurement of

fat in the liver, as a means to assess and monitor Non-Alcoholic

Fatty Liver Disease (NAFLD) and inflammation (NASH), chronic liver

conditions that affect over one billion people globally, and for

which there are no practical diagnostic tools. Beyond the liver,

ENDRA is exploring several other clinical applications of TAEUS,

including visualization of tissue temperature during energy-based

surgical procedures. www.endrainc.com

Forward-Looking Statements

All statements in this release that are not based on historical

fact are "forward-looking statements" within the meaning of Section

27A of the Securities Act of 1933 and Section 21E of the Securities

Exchange Act of 1934. Forward-looking statements, which are based

on certain assumptions and describe our future plans, strategies

and expectations, can generally be identified by the use of

forward-looking terms such as "believe," "expect," "may," "will,"

"should," "could," "seek," "intend," "plan," "goal," "estimate,"

"anticipate" or other comparable terms. Examples of forward-looking

statements include, among others, statements we make regarding

expectations concerning the anticipated use of proceeds from the

private placement; the amount of proceeds that may be received upon

the exercise of any Warrants; estimates of the timing of future

events and achievements, including obtaining a CE Mark and U.S.

Food and Drug Administration ( FDA ) 510(k) approval

and commercializing the TAEUS device; and expectations concerning

ENDRA's product development and business strategy. Forward-looking

statements involve inherent risks and uncertainties which could

cause actual results to differ materially from those in the

forward-looking statements, as a result of various factors

including, among others, the following: no Warrants ever being

exercised for cash, resulting no further proceeds to ENDRA; our

ability to develop a commercially feasible technology; receipt of

necessary regulatory approvals; our ability to find and maintain

development partners, market acceptance of our technology, the

amount and nature of competition in our industry; our ability to

protect our intellectual property; and the other risks and

uncertainties described in ENDRA's filings with the Securities and

Exchange Commission. The forward-looking statements made in this

release speak only as of the date of this release, and ENDRA

assumes no obligation to update any such forward-looking statements

to reflect actual results or changes in expectations, except as

otherwise required by law.

Chief Financial Officer

Media & Investor Relations Contact: