Brendan Technologies, Inc (fka BDTE)

[trader53]

Brendan Technologies Secures $600,000 Bridge Financing
Tuesday July 17, 8:30 am ET

http://www.littlebear.us/brendan-technologies-secures-600000-bridge-financing/

CARLSBAD, Calif.–(BUSINESS WIRE)–Brendan Technologies, Inc. (OTCBB: BDTE – News), an analytical software company developing advanced commercial software for immunoassay and bioassay testing technologies, has secured a bridge financing totaling $600,000, led by Little Bear Investments LLC as the lead investor and facilitated by Midtown Partners & Co. LLC.


The bridge financing will be used for working capital as Brendan completes its upgraded version of its software StatLIA®. With the upgrade, Brendan will provide software that will be capable of facilitating enterprise-wide lab infrastructures, enhance accuracy and speed in both immunoassay and bioassay testing, provide powerful data analysis graphics and increase the overall quality, efficiency and regulatory compliance required in laboratory testing. Brendan’s existing customer base, including companies such as Amgen, Merck, BioRad and Eli Lilly, should expect the upgraded version to be introduced to the market this fall.

“Securing this bridge financing is expected to enhance Brendan’s ability to continue unabated with the execution of our business model and provide us with the necessary capital to complete the much anticipated launch of our upgraded version of StatLIA®,” said John Dunn II, CEO and Chief Technical Officer of Brendan Technologies. “For years, StatLIA® has been a leading analytical software tool used in the immunoassay testing market, which is reflected in our existing customer base of premiere biopharmaceutical companies. Upon the completion of the upgrade, we expect a successful expansion of StatLIA® in the marketplace.”