HOUSTON, June 29, 2016 (GLOBE NEWSWIRE) -- Bio-Path Holdings, Inc., (NASDAQ:BPTH), a biotechnology company leveraging its proprietary DNAbilize™ liposomal delivery and antisense technology to develop a portfolio of targeted nucleic acid drugs, today announced that it has agreed to the sale and issuance to healthcare focused institutional investors of 5,882,353 shares of common stock and warrants to purchase up to 2,941,177 shares of common stock in a registered direct offering with gross proceeds of approximately $10.0 million. The shares and warrants will be sold as units, with each unit consisting of one share of Bio-Path common stock, and a warrant to purchase one half (0.5) of a share of Bio-Path common stock, at a purchase price of $1.70 per unit. The common stock and warrants will be immediately separable. The warrants will be exercisable after six months from issuance, have a term of five years after they become exercisable and an exercise price of $2.30 per share of common stock. The offering is expected to close on or about July 5, 2016, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co., LLC is acting as the exclusive placement agent for this offering.

About Bio-Path Holdings, Inc.

Bio-Path is a biotechnology company focused on developing therapeutic products utilizing DNAbilize™, its proprietary liposomal delivery and antisense technology, to systemically distribute nucleic acid drugs throughout the human body with a simple intravenous transfusion. Bio-Path’s lead product candidate, BP1001 (Liposomal Grb2 antisense), is in a Phase II study for blood cancers and in preclinical studies for solid tumors. Bio-Path’s second drug candidate, also a liposomal antisense drug, is ready for the clinic where it will be evaluated in lymphoma and solid tumors.

For more information, please visit Bio-Path’s website at http://www.biopathholdings.com