Bio-Bridge Science secures $2.77 million in financing

Each investment unit consists of a share of common stock, two series of common stock purchase warrants to purchase 0.5 share of common stock respectively. Approximately $2.5 million of the offering was purchased indirectly by a director, Trevor Roy.

The company will receive total proceeds of $ 2.775 million. Approximately $400,000 was paid at closing, and the balance of $2.375 million will be paid in ten equal amounts in monthly installments until May 1, 2009. The proceeds will be used for general working capital purpose and to fund the vaccine development activities in China.

Liang Qiao, chairman and CEO of Bio-Bridge, said: “We will see significant business development in both our core business in vaccine development and acquisition. We are optimistic that our shareholder value can be maximized through our continuous hard work.”