Interleukin Genetics Completes $3,000,000 Private Placement with Its Strategic Partner, Delta Dental Plan of Michigan

Posted: July 2, 2012 at 12:14 pm

WALTHAM, Mass.--(BUSINESS WIRE)--

Interleukin Genetics,Inc. (ILIU) which is pioneering the use of genetic testing for the prevention and improved management of certain chronic conditions, today announced that it has completed a financing for $3,000,000 with Delta Dental Plan of Michigan, Inc. The investment consists of the purchase of 500,000 shares of the Companys Series B convertible preferred stock. The Company expects to receive net proceeds of approximately $2.7 million after deducting fees and expenses. Each share of Series B preferred stock is convertible into approximately 21.86 shares of common stock reflecting a conversion price of $0.2745 per share. Delta Dental will obtain one board seat effective immediately replacing one of the Series A directors. BTIG LLC acted as the exclusive placement agent for the transaction.

"We are extremely pleased by the vote of confidence this transaction demonstrates by our current strategic partner Delta Dental Plan of Michigan," said Lewis H. Bender, Chief Executive Officer of Interleukin Genetics, Inc. Delta Dental of Michigan has supported the companys efforts to advance our unique periodontal disease susceptibility risk test, PST. We believe this financing makes a strong statement about our companys value to our partners and to our future potential. As new members to our Board of Directors, we are looking forward to our new investors input on our strategic objectives and business planning.

About Interleukin Genetics

Interleukin Genetics, Inc. (ILIU) develops and markets a line of genetic tests under the Inherent Health and PST brands. The products empower individuals to prevent certain chronic conditions and manage their existing health and wellness through genetic-based insights with actionable guidance. Interleukin Genetics leverages its research, intellectual property and genetic panel development expertise in metabolism and inflammation to facilitate the emerging personalized healthcare market. The Company markets its tests through partnerships with health and wellness companies, healthcare professionals and other distribution channels. Interleukin Genetics flagship products include its proprietary PST genetic risk panel for periodontal disease and tooth loss susceptibility sold through dentists, and the Inherent Health Weight Management Genetic Test that identifies the most effective diet and exercise program for an individual based on genetics. Interleukin Genetics is headquartered in Waltham, Mass. and operates an on-site, state-of-the-art DNA testing laboratory certified under the Clinical Laboratories Improvements Act (CLIA). For more information please visit http://www.ilgenetics.com.

Dental Plan of Michigan

Delta Dental of Michigan is a leader in the dental insurance industry. The Company is part of a group of affiliated companies that collectively is among the largest and oldest group dental benefits providers in the United States, covering 8.6 million people and paying out $2.2 billion in dental benefits as of the end of 2011.

Certain statements contained herein are forward-looking statements.Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements.Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, those risks and uncertainties described in the Companys annual report on Form 10-K for the year ended December 31, 2011 and other filings with the Securities and Exchange Commission. The Company disclaims any obligation or intention to update these forward-looking statements.

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Interleukin Genetics Completes $3,000,000 Private Placement with Its Strategic Partner, Delta Dental Plan of Michigan

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