VANCOUVER, British Columbia--(BUSINESS WIRE)--Response Biomedical Corporation (TSX: RBM, OTCBB: RPBIF) (the “Company”) announced that at the Company’s Special General Shareholders’ Meeting held today in Vancouver, shareholders approved the private placement of an aggregate of 13,333,333 common shares (the “Offered Shares”), at a price of Cdn. $0.60 per Offered Share, to Caduceus Private Investments III, LP, OrbiMed Associates III, LP and Caduceus Asia Partners, LP (the “Purchasers”) for gross proceeds of approximately Cdn. $8 million. The Offered Shares will represent approximately 34.4% of the issued and outstanding share capital of the Company after giving effect to the private placement. The private placement is expected to close tomorrow.
