KEEGO HARBOR, Mich., July 17, 2014 /PRNewswire/ -- Health Enhancement Products, an innovative Michigan-based biotech firm, is pleased to announce that its primary lender has increased the company's credit facility to $6 million, making $1 million available immediately to expedite both canine and bovine validation studies currently underway in the United States and Canada.
"This new infusion of capital funding will allow us to expedite the promising work in a broader set of studies and potentially move from research to licensing discussions as early as this fall," said Andrew Dahl, President and CEO of Health Enhancement Products. "And, we view this latest investment and inquiries from equity capital investors as vote of confidence in our process and prospects."
With a pre-pilot experiment in dairy cows already successfully concluded, an expanded pilot program will assess the effectiveness of the Company's product as an intra-mammary treatment and as an oral alternative, among other forms of administration. HEPI's primary business is investigating bioactive compounds extracted from algal cultures through research facilities in Montreal, Canada and Tulare County, California.
"The bovine pilot program involves larger groups of dairy cows and refinements to our approach," states Dr. Amy Steffek, Director of R&D. "We've already authorized our contract research organization (CRO) to proceed, and the pilot program will be initiated the week of July 21. The plan is to have pilot program preliminary results by the end of August or early September and share that information with our animal health collaboration partner."
The pilot program is a continuing research and validation effort directed at immune response in address
|SOURCE Health Enhancement Products, Inc.|
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