MANCHESTER — Boston Therapeutics Inc. developer of Sugardown, a complex carbohydrate therapeutic to treat diabetes and inflammatory diseases, announced that it has received a $500,000 equity investment in two $250,000 portions from a subsidiary of Advance Pharmaceutical Co. Ltd., a privately-held company based in Hong Kong with exclusive distribution rights for the product in Hong Kong, China and Macau.
David Platt, Ph.D., Boston Therapeutics CEO, said in a news release on www.marketwatch.com, “This investment and commitment to our company is an important milestone as we develop and grow our business.”
Terms of the investment were one million shares of common stock priced at 50 cents each. Advance Pharmaceutical's subsidiary made a $200,000 equity investment in the company in 2011. In April, Advance Pharmaceutical placed an order for $157,000 to market Sugardown in its licensed territory.
According to an article published in the New England Journal of Medicine, 92 million adults in China have diabetes and 148 million adults are pre-diabetic.
