C3 Jian Closes $30 Million Financing

Posted: February 28, 2012
C3 Jian Closes $30 Million Financing

LOS ANGELES, Feb. 27, 2012 (GLOBE NEWSWIRE) -- C3 Jian, Inc., a private
company focused on providing improved oral healthcare, announced today
that it has closed its most recent equity financing, raising total
proceeds of $30 million. The Company expects to use the proceeds to
advance its lead product, C16G2, a peptide drug targeting dental
caries, into human clinical trials in the United States. The Company is
planning to file an Investigational New Drug Application (IND) with the
U.S. Food and Drug Administration in April. Proceeds from the financing
will also be used to support production development and scale-up, GMP
manufacturing, as well as final development and clinical testing of a
hand held diagnostic product related to C16G2.

The Company will also continue to invest in its pipeline of new
proprietary peptide product candidates based on its platform
technology. C3 Jian is the worldwide exclusive licensee of patents
covering a cell signaling platform technology from The Regents of the
University of California. Dr. Wenyuan Shi, a professor at the
University of California, Los Angeles School of Dentistry and C3 Jian's
co-Founder, is one of the inventors of the technology. C3 Jian has used
the platform to identify a variety of drug leads, including peptides
that have the potential to re-mineralize teeth, in addition to
promoting nail and hair growth. The Company maintains a significant
portfolio of intellectual property with over 70 patents issued and
pending worldwide.

C3 Jian previously announced it will occupy a 35,000 sq. foot
biotechnology facility located in Marina del Rey. The building is fully
built-out as a first class biotechnology research and development
facility, with GMP manufacturing capacity. C3 Jian expects to move to
the new facility in May.

All three current primary shareholders of C3 Jian, Wyssta Investments,
Inc., Renaissance Health Services Corp., and Corvesta, Inc.,
participated in the financing. In addition to their other businesses,
each of the shareholders is affiliated with or owns at least one
company that underwrites dental insurance.

"We are very grateful to our shareholders and honored by the confidence
they have shown in C3J," said Todd R. Patrick, C3 Jian's President and
CEO. "We intend on maximizing the value of the Company by advancing our
products into human clinical trials. Although we may seek strategic
partners for the ultimate commercialization, these funds give us the
wherewithal to take the programs quite far in clinical development
while maintaining full control and ownership."

About C3 Jian, Inc.

C3 Jian is a clinical-stage biotechnology company developing and
commercializing novel products to diagnose, treat and prevent diseases
related to oral health. C3 is advancing targeted proprietary solutions,
which can offer more selective, efficacious and safer treatment
modalities for dental applications. The Company's platform cell
signaling technology has potential applications beyond oral health and
may impact a variety of diseases and disorders particularly related to
bacterial and fungal infections. C3 Jian is based in Los Angeles,
California. For more information about the company, please visit
www.c3-jian.com.
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