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Revelation Biosciences Inc. Announces Closing of $4.4 Million in Series A-1 Financing

·6 min read

Revelation Biosciences Inc. (Revelation), a clinical stage life sciences company focused on the development of immunologic-based therapies for the prevention and treatment of disease, announced today the closing of a private placement financing, raising gross proceeds of $4.4 million. National Securities Corporation, a wholly owned subsidiary of National Holdings, Inc. (NASDAQ:NHLD) acted as the exclusive placement agent and financial adviser for the successful completion of the Series A-1 Preferred Stock financing. The Company sold 684,444 shares of Series A-1 Preferred Stock at a purchase price of $6.36 per share ("Offering"). To date The Company has raised gross proceeds of $14.5 million.

The Company intends to use the net proceeds of the Offering for general working capital purposes and the development of REVTx-99 and REVDx-501. REVTx-99 is being developed as a therapy for the treatment of a wide range of respiratory viral infections, including COVID-19. REVDx-501 is a diagnostic being developed to test for upper respiratory viral infections including COVID-19. The funding will also facilitate investigation into potential additional indications for REVTx-99, and general and administrative operations.

The securities sold in this private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. The securities were offered only to accredited investors.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For more information on Revelation, please visit www.RevBiosciences.com.

About REVTx-99

REVTx‑99 is a proprietary intranasal drop formulation in development for the treatment of respiratory viral infection and is broadly applicable to most infectious viruses including SARS-CoV-2 and its variants. SARS‑CoV‑2 viral proteins have been shown to block the production of interferons, a key part of the innate immune response to viral infection, resulting in worsened clinical outcomes. REVTx‑99 acts by stimulating the innate immune system at the site of infection via an alternative pathway (TLR4) to produce protective cytokines including Type I and Type II interferons.

The innate immune system is the first line of defense against invading pathogens such as bacteria and viruses. Toll-like receptors (TLRs) are associated with sentinel cells (e.g. macrophages, dendritic cells) and serve a vital role in the innate immune system response. TLRs recognize repeated molecular patterns associated with pathogens (PAMPS). When a pathogen invades a subject, TLRs recognize PAMPS as foreign and activate the innate immune response, inducing the production of numerous cytokines to combat the invading pathogen and stimulate the adaptive immune response.

About REVDx-501

REVDx-501, a rapid point of care diagnostic product that can be used to detect any respiratory viral infection including SARS-CoV-2, influenza A, Influenza B, parainfluenza, respiratory syncytial virus, etc. The diagnostic is based on a lateral flow assay format, similar to a home pregnancy test with a simple to read visual readout that provides a result in less than 10 minutes without the need for specialized instrumentation or complicated sample collection. The commercial version of the kit is self-contained, portable, and able to be shipped anywhere. The instructions will direct users with a positive result to seek confirmatory testing and/or medical treatment.

About Revelation Biosciences Inc.

Revelation Biosciences, Inc. is a clinical stage life sciences company focused on the development of immunologic‑based therapies for the prevention and treatment of disease. The Company has several product candidates in development. REVTx‑99, the lead therapeutic candidate, is an intranasal immunomodulator for the early treatment of SARS‑CoV‑2 infection. An expansion of REVTx‑99 therapeutic indications is planned, targeting early treatment and prevention of respiratory viral infection such as influenza A or B, parainfluenza, and respiratory syncytial virus. REVTx‑200 is an intranasal immunomodulator adjunct to be used in combination with an intramuscular vaccination for more complete immunity. REVTx‑200 is based on the same technology used in REVTx-99. In addition to the Company’s therapeutic pipeline, Revelation is also developing REVDx‑501, a rapid point of care diagnostic that can be used to detect any respiratory viral infection, regardless of virus type or strain, without the need for specialized instrumentation. For more information on Revelation, please visit www.RevBiosciences.com.

Forward-Looking Statements

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements are statements that are not historical facts. We caution investors that forward-looking statements are based on management’s expectations and are only predictions or statements of current expectations and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those anticipated by the forward-looking statements. Revelation cautions readers not to place undue reliance on any such forward-looking statements, which speak only as of the date they were made. These risks include, but are not limited to, risks relating to the timing of the consummation of the private placement and the expected receipt and use of proceeds from the private placement: the timing, costs, conduct, and success of our development activities for REVTx-99 and expanded indications, REVTx-200, REVDx-501, or any other product candidates; the timing, costs, conduct and outcome of our other clinical studies, including the Phase 1 clinical study for REVTx-99; the anticipated treatment of future clinical data by the FDA, the EMA, or other regulatory authorities, including whether such data will be sufficient for approval; potential indications for which our product candidates may be developed; the availability of substantial additional funding for the Company to continue its operations and achieve its goals; the potential impact that COVID-19 may have on us, our suppliers, vendors, regulatory agencies, our employees, and the global economy as a whole; and the expected duration over which the Company’s balance will fund us.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210201005917/en/

Contacts

Sandra Vedrick
Vice President, Investor Relations & Human Resources
Revelation Biosciences Inc.
Email: svedrick@revbiosciences.com

and

Chester Zygmont, III
Chief Financial Officer
Revelation Biosciences Inc.
Email: czygmont@revbiosciences.com