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Medical Discoveries receives operating funds

Salt Lake-based Medical Discoveries Inc. said Wednesday that it has received more than $400,000 in short-term capital from the placement of short-term convertible notes through privately held investment advisory company Olympus Group, which has offices in Idaho and California.

Judy M. Robinett, MDI's president and chief executive officer, said that since October, the funds have allowed the company to "move forward in our plan to secure regulatory approvals for our anti-viral (HIV/AIDS), anti-bacterial and anti-fungal agents and technology."

MDI plans to complete a clinical human trial of its anti-HIV product overseas and have other related testing.