Adhera Therapeutics, Inc. announced that it has received $0.0475 million in funding from Cavalry Fund I Management, LLC
January 30, 2021
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Adhera Therapeutics, Inc. (OTCPK:ATRX) announced that it has entered into a material definitive agreement with returning investor Cavalry Fund I L.P., a fund managed by Cavalry Fund I Management, LLC for a private placement of senior secured convertible promissory note for gross proceeds of $47,500 and 753,968 warrants to purchase common share at a price of $0.08 per share on January 31, 2021. The note will bear interest rate of 10% per annum. The principal value of notes is $52,778 and will be issued at an original issue discount of 10%. The notes will mature on July 31, 2021. The notes are convertible into common shares of the company at a conversion price of $0.07 per share. The company will pay $8,000 as legal fees and UCC filing fees in an amount not to exceed $750 in the transaction. The company has issued securities pursuant to Section 4(a)(2) of the Securities Act of 1933 and/or Rule 506(b) of Regulation D.
Adhera Therapeutics, Inc. is a specialty biotech company. The Company is focused on the drug development and commercialization of small molecule drugs to treat Parkinson's disease (PD) and Type 1 diabetes. The Company's advanced development programs are MLR-1019, a small molecule drug candidate being developed for PD, and MLR-1023, being developed to treat Type 1 diabetes. MLR-1019 is a highly selective dopamine re-uptake inhibitor for treating the dyskinesias associated with chronic dopamine precursor levodopa (L-DOPA) treatment in PD patients. MLR-1019 is a highly selective dopamine reuptake transporter (DAT) inhibitor used for the treatment of type 1 diabetes, non-alcoholic steatohepatitis, and pulmonary inflammation. It utilizes a virtual drug development model, where contract research organizations (CROs) are employed to undertake certain drug discovery and development services on the Companyâs behalf and under its direct supervision.
ADHERA THERAPEUTICS, INC. 
