Helix BioMedix Inc. is a biopharmaceutical company with an extensive library of diverse bioactive peptides and patents covering six distinct classes and hundreds of thousands of peptide sequences. Applications for the company’s peptides include anti-aging skin care and blemish control as well as other topical anti-infective pharmaceuticals and wound healing applications.
The company today announced additional funding in the amount of $2.9 million through convertible promissory notes. The notes also included warrants to purchase 725,000 shares of the company’s common stock at an exercise price equal to $0.80 per share. The notes accrue interest at 8 percent a year and are due and payable on July 1, 2013. That is, unless the notes are converted into common stock at an earlier date.
The proceeds of $2.9 million will be used for general corporate purposes, including continued product development and the launch of additional consumer products. These products will be based on Helix BioMedix’s SmartPeptide technology.
In addition, Helix BioMedix announced the addition of Lawrence Blake Jones to its board of directors. Mr. Jones brings to the company extensive experience in law, finance and business. He is currently a managing partner of Scheuermann & Jones LLC, a Louisiana-based law firm. In addition, Mr. Jones serves on various organizations boards of directors including First NBC Bank, First Commerce Holding Company and the St. Jude’s Ranch for Children.