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Ascentia Biomedical Receives $1 Million Funding Commitment to Support Continued Research and Organizational Growth
BELLEVUE, Wash., Sept. 14 /PRNewswire-FirstCall/ -- Ascentia Biomedical Corporation (OTC Pink Sheets: ASCE), a leading researcher and developer of efficacious pharmaceuticals, compounds and other products, announces it has received an initial commitment for up to $1 million in funding for continued research, particularly in anti-cancer compounds, and for organizational growth.

The financing will come in the form of a series of separate convertible notes through Winsted Holdings, Inc. (OTC Bulletin Board: WHLI), Newport Beach, California, a highly respected Business Development Company.

Dr. James Clagett, President & CEO of Ascentia Biomedical said, 'This round of funding underscores the confidence and value Winsted has in our research and our exceptional scientific advisory board. It is a vote of confidence that further strengthens our efforts to provide the most comprehensive and cost-effective pharmaceutical research and development. This expansion round should position Ascentia to serve our customers with quality, innovative product solutions and efficacious pharmaceuticals.'

About Ascentia Biomedical Corporation

Our focus is SOLUTIONS through RESEARCH and DISCOVERY. Ascentia is developing and commercializing new pharmaceutical and biomedical products for application in a number of areas, including treatment for asthma, arthritis, psoriasis and cancer. Initially, a majority of these products will be secured through direct purchase or through licensing. As the Company grows and evolves, more products will be developed internally. Ascentia is focused on therapies for cancer and diseases of inflammation.

For more information visit the Company's website at: http://www.ascentiabiomedical.com

About Winsted Holdings, Inc.

Winsted Holdings, Inc. is a Business Development Company (BDC) located in Newport Beach, California. BDCs are publicly traded, closed-end investment companies regulated by the Investment Company Act of 1940. The Company was founded on the premise that combining both operational talent and financial talent within a single private equity investment firm can significantly enhance the magnitude and consistency of investment returns. Winsted Holdings' team consists of accomplished financial professionals with experience at prestigious financial institutions, seasoned corporate executives from various industry enterprises and successful entrepreneurs with expertise developed in aspects from business development to capital markets and from sales and marketing to technology development.

Certain statements contained herein are 'forward looking' statements as such term is defined in the Private Securities Litigation Reform Act of 1995. Because statements include risks and uncertainties, actual results may differ materially from those expressed or implied and include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission.

SOURCE Ascentia Biomedical Corporation



Source: PR Newswire (September 14, 2005 - 9:25 AM EDT)

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