Press Release

Ablitech, Inc. Completes $700k Seed Capital Round

Hattiesburg, Mississippi – Ablitech, Inc., a biotechnology company specializing in delivering gene therapeutics  with the potential to stop cancer and most degenerative diseases, today announced completion of a $700,000 seed capital round. All funds were raised from within Mississippi.

Ken Malone, CEO of Ablitech, commented: “Despite the challenges of raising money in this tough economic environment, we prevailed and raised the full amount we needed in a seed round, demonstrating great confidence in our product and our team.”

Ablitech’s chief product, Versadel, is a platform technology that has proven highly successful in lab testing.

“The funds from the seed capital round and federal grants enable us to to move Versadel from the laboratory to proof of concepts in animals,” Malone continued.

 Malone ended, “We are making rapid progess which positions our company for a venture capital round as early as next year.”

About Ablitech, Inc.: Ablitech, founded in 2006, is a Hattiesburg, Mississippi-based company that draws from the latest advances in polymer science and medicinal chemistry. Ablitech develops radical technologies for healing the human body. Ablitech's flagship product line, VersadelTM, is a technology that enables gene therapies for the treatment of all forms of cancer and other life threatening diseases.