PLEASANTON, Calif., Jan. 18 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation today announced that it has issued a short term 7% promissory note for $2,000,000 to Marr Technologies BV, its largest stockholder. The Company will use the proceeds of the note for general operating expenses.
Dr. Richard George, President and CEO of Calypte said, "We continue to execute our business plan and progress towards achieving our rapid test milestones. We are very appreciative of Marr's continued confidence and financial support for our company and together we look forward to the commercialization of Calypte's products."
About Marr Technologies BV:
Marr Technologies BV is a member of the Marr Group of companies (the "Group"). The Group has a large and diverse number of investments and projects globally, principally in Europe, the Far East, the Middle East and the CIS, with substantial investments in telecommunications and technology projects.
About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Pleasanton, California, is a healthcare company focused on the development and commercialization of diagnostic testing products for the detection of sexually transmitted diseases. Calypte specializes in novel tests such as the HIV-1 Incidence EIA as well as tests that can determine HIV antibody status without the need for blood. Calypte is engaged in developing new diagnostic test products for the rapid detection of HIV and other sexually transmitted 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 sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
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.
Calypte Biomedical CorporationCONTACT: Richard Brounstein, CFO, +1-925-730-7200,rbrounstein@calypte.com; Investor Relations, Tim Clemensen, RubensteinInvestor Relations, +1-212-843-9337, tclemensen@rubensteinir.com, for CalypteBiomedical Corporation
Web site: http://www.calypte.com/