CAMBRIDGE, Mass., Jan. 17 /PRNewswire-FirstCall/ -- Biopure Corporation announced today the closing of an underwritten public offering of stock and warrants that raised net proceeds to Biopure of approximately $3.0 million assuming no exercise of the warrants. Biopure sold to institutional and individual investors 4,110,000 new shares of its common stock and warrants to acquire an additional 4,110,000 new shares. The price for one share and one warrant was $0.82, and the exercise price of each warrant is $1.025. All of the warrants issued in the offering are callable by Biopure after six months provided that the weighted average price of Biopure’s common stock for ten consecutive days is over $1.5375. Dawson James Securities, Inc. and Noble International Investments, Inc. acted as the managing underwriters for the public offering.
Biopure intends to use the proceeds from this offering for general corporate and working capital purposes.
Biopure Corporation develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to transport oxygen to the body’s tissues. The company is developing Hemopure(R) [hemoglobin glutamer - 250 (bovine)], or HBOC-201, for a potential indication in cardiovascular ischemia and, in collaboration with the U.S. Naval Medical Research Center, for a potential out-of-hospital trauma indication. The product is approved in South Africa for treating surgery patients who are acutely anemic and for eliminating, delaying or reducing allogeneic red blood cell transfusions in these patients. Hemopure has not been approved for sale in other jurisdictions, including the United States or the European Union. Biopure’s veterinary product Oxyglobin(R) [hemoglobin glutamer - 200 (bovine)], or HBOC-301, the only oxygen therapeutic approved by the U.S. Food and Drug Administration and the European Commission, is indicated for the treatment of anemia in dogs.
Contact: Douglas Sayles Herb Lanzet (Investors) Biopure Corporation H.L. Lanzet Inc. (617) 234-6826 (212) 888-4570 IR@biopure.comlanzet@aol.com
Biopure Corporation
CONTACT: Douglas Sayles of Biopure Corporation, +1-617-234-6826,IR@biopure.com; or Herb Lanzet, Investors Contact of H.L. Lanzet Inc.,+1-212-888-4570, lanzet@aol.com
Web site: http://www.biopure.com//
Company News On-Call: http://www.prnewswire.com/comp/131224.html /
