Velcera Inc. Closes on $10 Million Financing and Becomes a Public Company

Private offering provides new funding as Velcera Inc. becomes a public reporting company.

Langhorne, PA, — Velcera Pharmaceuticals Inc., a pet health company announced the successful completion of a private equity offering and its transition to a public reporting company.

Velcera completed the private sale of approximately 5.3 million units of common stock and warrants to new and existing investors raising approximately $10 million in gross proceeds. Participants in the offering included the Liberty View group of funds, Persistency Capital, and other select institutional and qualified investors. The Maxim Group, LLC acted as the Company's exclusive placement agent in the offering. Contemporaneously with the closing, Velcera Pharmaceuticals merged with Denali Sciences, Inc., a public reporting Delaware corporation and changed its name to Velcera, Inc.

"Our emergence as a public reporting company marks a very exciting and important milestone in Velcera's history," said Dennis Steadman, President, CEO and a Director of Velcera, Inc. "The pet health segment is an attractive and growing business segment; thus our ability to access the public capital market to expand our pet heath business is a tremendous opportunity," Steadman said. "The new name, Velcera, Inc., is a better reflection of the company's broad interest in improving veterinary medicines and pet health beyond strictly pharmaceuticals," Steadman added.

"Velcera has made great progress in the development and deployment of our companion animal oral mucosal delivery technology (Promist™), which is reflected by the high level of interest in our private placement offering," said Dr. Tony Benitz, head of Velcera R&D. The Velcera offering generated excellent investor interest and this 'surplus demand' is a positive indicator for both the strength of the Velcera business plan as well as the attractiveness of the pet health sector.

About Velcera Inc.

A public reporting, development-stage pet health company, Velcera is developing its patented oral mucosal drug delivery technology to improve the convenience and compliance of administering pet medicines. Velcera combines patented drug delivery technology with in-depth pet health expertise and leadership to develop and market new and improved pet medicines.

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