Calypte Biomedical Corporationl Secures Funding to Conduct Clinical Trials

Published: Oct 17, 2011

PORTLAND, Ore., Oct. 14, 2011 (GLOBE NEWSWIRE) -- Calypte Biomedical Corporation (OTCBB:CBMC), a developer, manufacturer and marketer of HIV diagnostic tests, today announced that it has entered into a memorandum of understanding (MoU) with a private investor to secure funding needed to complete the FDA approval procedures for the new product AWARE(TM) 2. The MoU contemplates an initial investment of at least $1,000,000 through 2012, contingent upon the Company following an agreed upon budget plan, and potentially up to $4,000,000 from additional investors.

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