PixarBio Corporation, (OTC:PXRB) inventors of NeuroRelease™, a novel morphine replacement, non-opiate/opioid, non-addictive pain treatment, today announced that it has completed the closing of the sale of common shares and warrants in a private placement transaction ("the Offering") resulting in expected proceeds of approximately $23.4 million from its private placement memorandum financing plus a $10MM line of credit. The PPM closed $7.2 million in cash, and warrants as exercised worth $16.2 million. "Following my established Reynolds School of Business (RSB) model for Biotech/Pharmaceutical R&D, PixarBio has optimized our shareholder value through our recently closed private placement memorandum. I've raised over $100MM since 2008, and I have never closed a down round. In 2013, I left the company I founded InVivo Therapeutics with 1.5 years of cash, and two year of cash equivalents based on NVIV budgeted forecast. I left InVivo Therapeutics financially secure, and there's no reason to issue the first down round of my career with PixarBio Corp shares. Our PPM closed $7.2MM cash, $16.2MM in warrants, and we closed a $10MM line of credit to provide our runway with enough fuel through 2017. Replacing Morphine, and all opioids/opiates is one of the hottest spaces for Pharma/Biotech investment right now, so we were able to optimize a balanced investment portfolio for investors. I've been researching and developing non-opiate pain treatments for a couple decades and now my inventions are an overnight hit. NeuroRelease is the only non-opiate, non-addictive morphine replacement engaging the US FDA, that is not neuro-toxic, and it's not cardio-toxic. NeuroRelease can be effective at fighting post-surgical pain for up to 14-days. I have predicted that in the future, our 14-Day post-surgical pain treatment will put struggling competitors with slowing year over year sales growth out of business within 36 months of NeuroRelease product launch. In the last year, our valuation has been outpacing the market and our competitors. We believe that we'll continue to outperform the market in regards to invention and shareholder value maximization. Discussions in recent months with strategic partners, gives us great confidence for maximizing shareholder value at PixarBio. I'm not an "annuity CEO/CFO" with less than 1% of their Pharma/Biotech shares, and seeking a steady paycheck. I own over 60% of PXRB and I will defend the shareholder value that I invent and capture for PixarBio shareholders. We have zero bad actors on our Board of Directors and we will fight to maximize shareholder value EVERYDAY," said PixarBio Chief Executive Officer Frank Reynolds.