BELLEVUE, Wash., Nov. 25, 2009 (GLOBE NEWSWIRE) -- TapImmune Inc. (OTCBB:TPIV), a biotechnology company specializing in the development of immunotherapeutic vaccines for cancer and infectious diseases, within the last 60 days secured an additional $600,000 in equity funding, bringing the total for the last six months of 2009 to over $1,000,000. The recent investors acquired $.80 units with each unit comprised of one share and one warrant exercisable at $1.20 for a period of 5 years.
The Company's recent restructuring has provided a more secure framework from which to solicit investment and industry partnerships. We will continue to work diligently to secure additional funding and to move our product development and business forward.
About TapImmune Inc.
TapImmune Inc. is a biotechnology company specializing in the development of innovative cell based immunotherapeutics and vaccines in the areas of oncology and infectious disease. The Company's lead product candidate, the AdhTAP vaccine enhancer is designed to restore and augment antigen presentation and subsequent recognition and killing of cancer cells by the immune system. The Company is currently planning the development AdhTAP for the commencement of clinical manufacturing and toxicology studies. The Company is also developing a TAP based prophylactic vaccine which initial tests indicate may increase the efficacy of targeted prophylactic vaccines by up to 1000 times. As a vaccine, our TAP technology is not only needed but could significantly improve the efficacy of many current prophylactic vaccines and enhance the creation of new ones in the fight against many pandemic infectious diseases. As a cancer therapy, our TAP vaccine alone or in combination with others could prove to be a key component of a more successful assault on cancer.
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Forward-Looking Statement Disclaimer
This release contains forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this news release concerning the Company's expectations, plans, business outlook or future performance, and any other statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements". Forward-looking statements are by their nature subject to risks, uncertainties and other factors which could cause actual results to differ materially from those stored in such statements. Such risks, uncertainties and factors include, but are not limited to the risks set forth in the Company's most recent Form 10-K and other SEC filings which are available through EDGAR at www.sec.gov. These are among the primary risks we foresee at the present time. The Company assumes no obligation to update the forward-looking statements.