BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Holmes BioPharma (HMHB.OB) Omaha Research Operations Disrupted


5/19/2008 8:36:01 AM

SCOTTSDALE, ARIZONA--(MARKET WIRE)--May 19, 2008 -- Holmes Biopharma, Inc. (OTC BB:HLMB.OB - News) announces that its clinical research operations in Omaha, Nebraska have been disrupted due to a working capital deficiency. The Company's operating subsidiary has created a strategy to continue operations in Kiev, Ukraine and Toronto, Canada.

The Company has for several months been attempting to refinance its clinical research subsidiary. Additional funding is needed because of operating losses incurred during its start up period combined with increased overhead created by strong growth in sales. Weak equity and banking conditions worldwide have made this process difficult and there is no guarantee that a refinancing is possible in order to allow operations in Omaha to continue.

The Company will provide more information as it becomes available.

On behalf of the Board of Directors

John F. Metcalfe, President, CEO

Certain statements in this press release constitute "forward looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the Company's management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.

Contact:

Contacts: Holmes Biopharma, Inc. John F. Metcalfe President, CEO 1-800-778-4990 Email: ir@holmesbiopharma Website: http://www.holmesbiopharma.com

Source: Holmes Biopharma, Inc.

Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES