San Diego, CA, Aug. 07, 2020 (GLOBE NEWSWIRE) -- August 7, 2020, Novel and generics pharma producer OncoGenerix and Alpha Capital LLC have come to an agreement to build a new injectable pharmaceutical factory in the US. The production facility will serve as an affiliate factory, similar to the one that OncoGenerix already operates in China. Alpha Capital LLC is considering a Georgia Opportunity Zone as the location for the new plant. The output capacity of the project is expected to reach 20 million vials of injectable oncology products and vaccines.
Earlier this year, Alpha Capital, LLC launched an international capital raise to secure a substantial stake in OncoGenerix, which recently completed a state-of-the-art pharmaceuticals factory in Mudanjiang Province, China. The offering is a first-of-its-kind digital investment opportunity - tokenized ownership of a pharmaceutical facility. Alpha Capital, LLC is offering up to 500 million ONGX Tokens at US $0.12 per token and a US onshore offering of shares in Alpha Capital's special purpose vehicle. The ONGX Tokens are built on the ERC20 blockchain protocol, serve as a SAFE (simple agreement for future equity), and will be exchangeable at the option of the investor for equity-token securities..
“Our joint work with OncoGenerix is helping to bring new pharma production capacity to US soil. The planned facility will be able to alleviate substantial shortages, as well as increase injectable--liquids and vaccines--manufacturing capability. It’s been hard in the past for independent investors to enter the pharmaceutical industry as building pharma production capacity takes substantial investments of financial capital and time. Individual investors typically were only able to access this vertical via publicly traded securities. The ONGX Token makes it possible for individual investors to step in earlier, while reducing the investment ticket size by orders of magnitude,” said Alpha Capital LLC’s co-founder and CEO Colin Breeze. “We are excited to extend our manufacturing capacity to the United States together with Alpha Capital and look forward to helping solve existing oncology drug shortages to support the US market,” said Oleksandr Zabudkin, CEO of OncoGenerix.
OncoGenerix’s manufacturing services include technical transfer, process development, scale-up, equipment and process validation, formulation, filling, lyophilization, inspection, labeling, and packaging. OncoGenerix combines sterile drug manufacturing to deliver compliant and cost-effective drug production.
About Oncogenerix
As a provider for the next generation of good manufacturing practices compliant and high-quality manufacturing services for injectable products, OncoGenerix offers extensive experience in supplying high-quality injectable drug product sterile manufacturing services. OncoGenerix’s services represent the entire pharma cycle, from early-stage drug development to global commercial supply. Visit www.oncogenerix.io for more information.
Under Rule 506(c), a general solicitation of offerings is permitted, however, purchasers in a Rule 506(c) offering must be “accredited investors.” This press release does not constitute an offer to sell nor a solicitation of an offer to purchase any securities in any jurisdiction in which such an offer or solicitation is not authorized and does not constitute an offer within any jurisdiction to any person to whom such offer would be unlawful. The ONGX Tokens have not been registered under the Act, or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements under the Act and applicable state securities laws.
Forward-Looking Statements
This press release contains forward-looking statements. Although Alpha Capital, LLC believes such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Alpha Capital, LLC has no duty to update any statements contained herein (including any forward-looking statements), except as required by law.
Source: ⍺ ALPHA CAPITAL
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