Business
Ainos Concludes Growth Financing From Lind Partners
Maintaining robust financial runway after the prepaymentReinforcing Ainos' commitment towards building shareholder value SAN DIEGO, CA / ACCESSWIRE / August
About this update from Ainos, Inc.
[{"type":"text","content":"Maintaining robust financial runway after the prepaymentReinforcing Ainos' commitment towards building shareholder value SAN DIEGO, CA / ACCESSWIRE / August 6, 2024 / Ainos, Inc. (NASDAQ:AIMD)(NASDAQ:AIMDW) (\"Ainos\", or the \"Company\"), a diversified healthcare company focused on novel AI-powered point-of-care testing (\"POCT\") and low-dose interferon therapeutics (\"VELDONA\"), today announced that the Company has prepaid its remaining convertible note financing (the \"Note\") with Lind Global Fund II LP, an institutional investment fund managed by The Lind Partners (together the \"Investor\"), through conversions of the Note by the Investor and payments by the Company, which aggregates at a total of approximately US$1.67 million.Chun-Hsien (Eddy) Tsai, Chairman of the Board, President, and CEO of Ainos, commented, \"We remain extremely appreciative of the financial support from The Lind Partners, which provided us the growth capital to execute our VELDONA and AI Nose development plans. We recently have enrolled our first subject of VELDONA®-based animal drug in treating FCGS. We are also developing the next-gen Ainos Flora, powered by AI Nose, implementing NVIDIA CUDA. We believe we still have more than 12 months of financial runway after we paid off the Note. Moving forward, we are excited to add strength to our commitment to building shareholder value.\"\"The Lind Partners are hopeful about the long-term potential of VELDONA and AI Nose technologies Ainos is developing. It has been a constructive relationship with the Company. Eddy and his team have been diligent and responsible throughout our financing journey. We are happy to see the Company secured a $9M growth financing in May. We wish Ainos the best,\" said Jeff Easton, Managing Director of The Lind Partners.About Ainos, Inc.Headquartered in San Diego, California, Ainos is a diversified healthcare company focused on novel AI-powered point-of-care testing (POCT) and low-dose interferon therapeutics (VELDONA). The Company's clinical-stage product pipeline includes VELDONA human and animal oral therapeutics, human orphan drugs, and telehealth-friendly POCT solutions powered by its AI Nose technology platform.The name \"Ainos\" is a combination of \"AI\" and \"Nose\" to reflect the Company's commitment to empowering individuals to manage their health more effectively wi...