Full Press Release Details
ENDRA Life Sciences Completes Private Placement of $2.8 Million of
Convertible Secured Notes and Warrants
Raise Fortifies Balance Sheet
ANN ARBOR, Michigan July 29, 2019 - ENDRA Life Sciences
Inc. ( ENDRA ) (NASDAQ: NDRA), a developer of
enhanced ultrasound technologies, has closed a private placement of
secured convertible notes and warrants for aggregate gross proceeds
of approximately $2.8 million with various accredited investors.
ENDRA intends to use these proceeds for working capital and general
We wanted to strengthen our
balance sheet while utilizing a structure that minimizes dilution
to current shareholders, said ENDRA's Chief Executive
Officer, Francois Michelon. Our financial runway is now
enhanced and we have capital to continue executing on key
milestones, including additional human studies, regulatory filings
and commercial launch of TAEUS, concluded
Securities Corporation, a wholly owned subsidiary of National
Holdings Corporation (NASDAQ: NHLD), acted as the exclusive
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.
details regarding this private placement can be found in ENDRA Life
Sciences' Current Report on Form 8-K filed with the
Securities and Exchange Commission on July 29, 2019.
About ENDRA Life Sciences Inc.
Life Sciences Inc. ("ENDRA") (NASDAQ: NDRA) is a developer of
enhanced ultrasound technologies. ENDRA is developing a next
generation Thermo-Acoustic Enhanced UltraSound (TAEUS )
platform to enable clinicians to visualize human tissue
composition, function and temperature in ways previously possible
only with CT & MRI - at a fraction of the cost, and at the
point-of-care. ENDRA's first TAEUS application will focus on the
fatty liver tissue characterization, for early detection and
monitoring of Non-Alcoholic Fatty Liver Disease (NAFLD). ENDRA's
goal is to bring new capabilities to ultrasound - thereby
broadening access to better healthcare. For more information,
please visit www.endrainc.com.
About Non-Alcoholic Fatty Liver Disease (NAFLD)
is a condition closely associated with obesity, diabetes,
hepatitis-C and certain genetic predispositions in which fat
accumulates in the liver. NAFLD affects over 1 billion people
globally and is estimated to cost the U.S healthcare system over
$100 billion annually. NAFLD is often asymptomatic and if left
untreated, NAFLD can progress to inflammation (NASH), tissue
scarring (fibrosis), cell death (cirrhosis) and liver cancer. By
2025, NAFLD is forecast to be the greatest root cause of liver
transplants. The only tools currently available for diagnosing and
monitoring NAFLD are impractical: expensive Magnetic Resonance
Imaging (MRI) or an invasive surgical biopsy.
Forward-Looking Statements
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 the use of proceeds from our private placement of
notes and warrants, planned human studies, regulatory filings and
commercial launch of our liver device. 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: 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; our ability to
raise additional capital to finance our commercialization plan; 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
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