San Antonio, TX – According to filings with the U.S. Securities and Exchange Commission, Phoenix Biotechnology is raising $5,000,000.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Crandell Addington played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Phoenix Biotechnology

Phoenix Biotechnology, Inc., has been exploring the health-related benefits of a novel extract of Nerium oleander for the past 20 years. The company has developed a supercritical CO2 extraction of Nerium oleander into a new botanical drug PBI-05204. PBI-05204 is a ‘botanical drug’ that has been through initial FDA review and approved for the Phase I and Phase II clinical trials which were conducted in the United States. These trials have shown that this oral (capsule) formulation is safe for administration to patients without undue toxicity. Extensive research has been done in the following areas: Antiviral, Cancer, and Neurodegenerative Diseases.

To learn more about Phoenix Biotechnology, visit http://www.phoenixbiotechnology.com/

Contact:
Crandell Addington, Chief Executive Officer
210-828-4373

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