Calypte Biomedical Announces Board Member Resignation
01 Julho 2004 - 10:30AM
PR Newswire (US)
Calypte Biomedical Announces Board Member Resignation PLEASANTON,
Calif., July 1 /PRNewswire-FirstCall/ -- Calypte Biomedical
Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT) , announced today
that, after 8 years of service and with much regret, Zafar I.
Randawa, Ph.D. resigned as a member of its Board of Directors
effective June 30, 2004. Dr. Randawa cited personal reasons and
time constraints as the reason for his resignation. Anthony J.
Cataldo, Calypte's Chairman commented, "We thank Dr. Randawa for
his dedicated service as a member of Calypte's Board of Directors
since December 1996 and wish him well in his many other pursuits.
We have benefited greatly from his scientific expertise as chairman
of the Board's Technology Committee. Dr. Randawa has been fully
supportive of the Company and has helped significantly in our
efforts to promote our business worldwide, especially in Japan."
Dr. Randawa is the Senior Director of R&D Alliances for Otsuka
Maryland Medicinal Laboratories LLC, a subsidiary of Otsuka
Pharmaceutical Co. Ltd., Japan. Under an evergreen relationship,
Otsuka Pharmaceutical has exclusive distribution rights to
Calypte's urine HIV-1 EIA products in Japan. Mr. Cataldo continued,
"Although we will no longer have a representative of Otsuka on our
Board of Directors, Calypte believes that it will be able to
maintain its positive relationship with Otsuka." As a result of Dr.
Randawa's resignation, Calypte has re-sized its Board of Directors
to five members and Dr. Richard George, the Company's President and
Chief Executive Officer, has agreed to assume the role of chairman
of the Technology Committee. About Calypte Biomedical: Calypte
Biomedical Corporation, headquartered in Pleasanton, 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.
Investor Relations Contact: Tim Clemensen, Rubenstein Investor
Relations Phone: 212-843-9337 Email: DATASOURCE: Calypte Biomedical
Corporation CONTACT: Tim Clemensen, Rubenstein Investor Relations,
+1-212-843-9337, , for Calypte Biomedical Corporation Web site:
http://www.calypte.com/
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