Eternity Healthcare has completed a financing in the amount of US$1,362,434 for issuance of 2,724,868 common shares to international investors. The company sold restricted common shares at a price of US$0.50 per share under Regulation S, which are subject to rule 144. The common shares issued are restricted for resale until either a registration statement is filed with the SEC or the time period for registration expires under rule 144 and restriction legends are removed. The company plans to use the proceeds of this financing to implement a strong product marketing programme, for the sales and commercialisation of its products to further business development.
Eternity Healthcare is a biopharmaceutical company with technologies in drug delivery, specialty pharmaceuticals and medical devices. It is currently focusing on the development of new subcutaneous formulation of otherwise intramuscular injectable drugs and needle-free injection systems.