Phio Pharmaceuticals announced it has entered into a purchase agreement with TRITON Funds. Subject to the terms of the purchase agreement, TRITON will purchase up to approximately 18.8% of Phio‘s common shares yielding gross proceeds of up to $621,000 to the Company. “We are very pleased to have TRITON Funds take a significant position in our Company,” said Robert Bitterman, Phio President and CEO. “Their investment in microcap companies which develop breakthrough technologies establishes further recognition for our INTASYL program as a unique alternative for treatment of solid tumors.”
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