Calypte Biomedical Raises $9.3 Million in Private Placement
01 Junho 2004 - 11:01AM
PR Newswire (US)
Calypte Biomedical Raises $9.3 Million in Private Placement
ALAMEDA, Calif., June 1 /PRNewswire-FirstCall/ -- Calypte
Biomedical Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT) , a
developer, manufacturer and marketer of HIV diagnostic tests, today
announced that it has raised $9.3 million in a private placement to
accredited investors. The Company is issuing 23.25 million shares
of its common stock at $0.40 per share and five-year warrants to
purchase 8.138 million shares of its common stock at $0.50 per
share. The investors, led by SF Capital Partners Ltd., also
included Marr Technologies BV, which participated in the Company's
last two financing rounds and remains its largest stockholder. The
proceeds are expected to be used primarily for the
commercialization of the Company's rapid tests for HIV-1/2
diagnosis that are currently under development and for general
working capital purposes. Tony Cataldo, Calypte's Chairman stated,
"Today, we announced a financing with participation from
institutional investors. We believe this commitment is a reflection
of the potential for our rapid tests for the detection of HIV in
emerging markets." The Company plans to file a registration
statement in connection with the private placement to register the
shares of common stock issued and the shares of common stock
underlying the warrants granted. About Calypte Biomedical: Calypte
Biomedical Corporation, headquartered in Alameda, California, is a
public healthcare company dedicated to the development and
commercialization of in vitro diagnostic tests, primarily for the
detection of antibodies to Human Immunodeficiency Virus (HIV), and
other sexually transmitted and infectious diseases. Calypte's
currently marketed laboratory-based tests include an enzyme
immunoassay (EIA) HIV-1 antibody screening test and an HIV-1
antibody western blot supplemental test, the only two FDA-approved
HIV-1 antibody tests for use on urine samples, as well as an
FDA-approved serum HIV- 1 antibody western blot supplemental test.
Calypte is actively engaged in developing new test products for the
rapid detection of HIV and other infectious diseases. Calypte
believes that there is a significant need for rapid detection of
such diseases globally to control their proliferation, particularly
in lesser-developed countries, which lack the medical
infrastructure to support laboratory-based testing. Calypte
believes that testing for HIV and other infectious diseases may
make important contributions to public health. Statements in this
press release that are not historical facts are forward-looking
statements within the meaning of the Securities Act of 1933, as
amended. Those statements include statements regarding the intent,
belief or current expectations of the Company and its management.
Such statements reflect management's current views, are based on
certain assumptions and involve risks and uncertainties. Actual
results, events, or performance may differ materially from the
above forward-looking statements due to a number of important
factors, and will be dependent upon a variety of factors,
including, but not limited to, the Company's ability to obtain
additional financing and access funds from its existing financing
arrangements that will allow it to continue its current and future
operations and whether demand for its test products in domestic and
international markets will continue to expand. The Company
undertakes no obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the
date hereof or to reflect any change in the Company's expectations
with regard to these forward-looking statements or the occurrence
of unanticipated events. Factors that may impact the Company's
success are more fully disclosed in the Company's most recent
public filings with the U.S. Securities and Exchange Commission
("SEC"), including its annual report on Form 10-KSB for the year
ended December 31, 2003 and its subsequent filings with the SEC.
Contact: Richard Brounstein, CFO Tim Clemensen, (510) 749-5100
Rubenstein Investor Relations email: Phone: 212-843-9337 Email:
DATASOURCE: Calypte Biomedical Corporation CONTACT: Richard
Brounstein, CFO of Calypte Biomedical Corporation, +1-510-749-5100,
or ; or Investors, Tim Clemensen of Rubenstein Investor Relations,
+1-212-843-9337, or , for Calypte Biomedical Corporation Web site:
http://www.calypte.com/
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