Cytonics has received over $14.5M in funding, including $1.8M in grants from the National Institute of Health. An orthopedic implant company purchased a minority interest in Cytonics in 2011 and made an additional investment in 2013. Our corporate and securities counsel is Edwards Wildman Palmer LLP.
Although our cash position is solid, with the level of research, clinical testing, and product launch expenses we are projecting for 2015, we have insufficient current cash reserves. Therefore, we have initiated a fund raising campaign to fund additional preclinical and clinical testing of APIC as well as to continue our research on recombinant therapeutics for back and joint related pain.
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