ISELIN, N.J., Nov. 7 /PRNewswire-FirstCall/ -- SyntheMed, Inc. , a biomaterials company engaged in the development and commercialization of anti-adhesion, tissue repair and drug delivery products, announced today that it has filed a universal shelf registration statement with the Securities and Exchange Commission (SEC) that, if declared effective by the SEC, will allow SyntheMed to sell, from time to time, up to $20 million of its common stock, debt securities, preferred stock, warrants to purchase common stock, preferred stock or debt securities, or any combination thereof from time to time in one or more offerings. The terms of any offering under the registration statement will be established at the time of the offering and will be described in a prospectus supplement that SyntheMed will file with the SEC.
SyntheMed expects to use the net proceeds from any sale of securities under this registration statement for general corporate purposes including expenses associated with the anticipated US market launch of REPEL-CV(R) Adhesion Barrier, research and development expenses for new product opportunities including potential applications of its polymer film technology in spine and ENT surgery and costs related to post-approval clinical trials for REPEL-CV.
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold, nor may offers or orders to buy the securities be accepted prior to the time the registration statement becomes effective. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Any offers, solicitations of offers to buy or sales of securities will only be made pursuant to the registration statement filed with and declared effective by the SEC, including the prospectus and related prospectus supplement.
About SyntheMed, Inc.
SyntheMed, Inc. is a biomaterials company engaged in the development and commercialization of anti-adhesion, tissue repair and drug delivery products. The Company is primarily focused on the advancement and expansion of product development programs based on its proprietary bioresorbable polymer technology.
Statements in this Press Release that are not statements of historical fact, including statements regarding indications of the timing or ability to achieve regulatory approval and market launch for REPEL-CV or other product development projects, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include but are not limited to (i) potential adverse developments regarding the Company’s efforts to obtain and maintain required FDA and other regulatory approvals; (ii) potential inability to secure funding as and when needed to support the Company’s future activities and (iii) unanticipated delays associated with manufacturing and marketing activities. Reference is made to the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2006 for a description of these, as well as other, risks and uncertainties.
CONTACT: Greg Tiberend of Richard Lewis Communications, Inc.,
+1-212-827-0020, Tiberend@rlcinc.com, for SyntheMed, Inc.
