Applied Bioresearch, Inc., raised 10% of its expected $500,000 non-brokered equity offering. This financing brings to $300,000 the estimated amount raised via private placement equity issuance by the company. Applied Bioresearch is looking for another eighteen investors at most.
While the product developed by the company is not known at this time, it is related to the pharmaceutical industry. The company is an affiliate of World Health Products LLC, a company which developed and markets Detoxamin, a suppository for chelation therapy. Chelation therapy involves the removal of heavy metals and other materials from the body. The company also markets a host of dietary, nutritional supplements and other wellness related products.
Applied Bioresearch, headquartered in Draper, UT., was founded in June 2011 by Kendal E. Svedeen.