Nika Pharmaceuticals, Inc. (OTCQB: NIKA) Funding Update

Nika Pharmaceuticals (OTCQB: NIKA) said it is continuing negotiations with investors in Thailand, Japan, Switzerland, Luxembourg, the USA, Bulgaria and the UAE to finance a deal of up to $50 million. The company expects to select its preferred investor and finalize a funding agreement by September 30, CEO Dimitar Savov said, noting that the technical discussions have taken longer than expected. Nika added that planning is complete and the equipment needed for its manufacturing facility has already been selected, allowing it to begin construction and production soon after receiving funds. The release also outlines its portfolio and therapeutic focus areas including HIV/AIDS and hepatitis.