CAMBRIDGE, Mass., Dec. 28 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR - News) announced today the closing of a previously announced financing that raised net proceeds to Biopure of approximately $5.8 million. Biopure sold to institutional and individual investors 10,120,000 new shares of its common stock and warrants to acquire an additional 10,120,000 new shares. The price for one share and one warrant was $0.68, and the exercise price of each warrant is $0.85. This transaction included all of the shares and warrants granted to the underwriters to cover over-allotments. Dawson James Securities, Inc. and Noble International Investments, Inc. acted as the managing underwriters for the public offering.
Biopure Corporation develops, manufactures and markets pharmaceuticals, called oxygen therapeutics, that are intravenously administered to deliver oxygen to the body’s tissues. The company is developing Hemopure® [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® [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.com lanzet@aol.com
Source: Biopure Corporation
