Med BioGene Inc. (TSX VENTURE:MBI), a biotechnology company developing genetic biomarkers to improve screening, diagnosis, prognosis and treatment decisions for patients suffering from certain cancers and cardiovascular disease, is pleased to announce that it will close on June 29, 2007 the second and final tranche of its previously announced private placement. MBI has received irrevocable subscriptions from four purchasers to subscribe for an aggregate of 677,500 units at a price of $0.45 per unit for aggregate gross proceeds of approximately $305,000. The first tranche of the private placement closed on June 1, 2007 and resulted in gross proceeds of approximately $3.07 million.
