Navigation Links
SyntheMed Completes $2.8 Million Equity Financing
Date:9/3/2007

ISELIN, N.J., Aug. 14 /PRNewswire-FirstCall/ -- SyntheMed, Inc. (OTC Bulletin Board: SYMD), today announced that it has completed the initial closing of a private placement in which it received $2.8 million in gross proceeds. Robert P. Hickey, the Company's President and CEO, stated, "The proceeds of this financing will help fund the US launch of REPEL-CV(R) Adhesion Barrier planned for the fourth quarter of this year."

At the closing, the Company issued and sold 2.8 million shares of Common Stock at $1.00 per share to a consortium of accredited overseas investors. The Company has authorized the sale of an additional 3.2 million shares in the private placement on the same terms. The Company has agreed to file a registration statement with the SEC covering the resale of the privately-placed shares within thirty days following final closing of the placement, which is anticipated to occur on or before August 31, 2007.

The securities offered in the private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

SyntheMed, Inc. is a biomaterials company engaged in the development and commercialization of anti-adhesion and drug delivery products 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 the potential market size for REPEL-CV, 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.


'/>"/>
SOURCE SyntheMed, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related biology news :

1. Worlds largest rainforest drying experiment completes first phase
2. Expression Project for Oncology (expO) completes first phase of standardized gene expression analyses
3. Sandia completes depleted uranium study
4. LIAI completes worlds most comprehensive analysis on influenza virus data
5. A comprehensive response to HIV could prevent 10 million AIDS deaths in Africa by 2020
6. UCLA launches $20 million stem cell institute to investigate HIV, cancer and neurological disorders
7. Six million Africans face famine because of locusts, drought
8. Retrovirus struck ancestors of chimpanzees and gorillas millions of years ago, but did not affect ancestral humans
9. Evidence of 600-million-year old fungi-algae symbiosis discovered in marine fossils
10. $5.1 billion would save 6 million children
11. Health costs soar as 60 million Americans classed as obese
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/3/2017)... 3, 2017  Data captured by IsoCode, ... detected a statistically significant association between the ... treatment and objective response of cancer patients ... predict whether cancer patients will respond to ... well as to improve both pre-infusion potency testing ...
(Date:3/30/2017)... NEW YORK , March 30, 2017 ... by type (physiological and behavioral), by technology (fingerprint, AFIS, ... recognition, voice recognition, and others), by end use industry ... travel and immigration, financial and banking, and others), and ... Europe , Asia Pacific ...
(Date:3/27/2017)... , March 27, 2017  Catholic Health Services ... Management Systems Society (HIMSS) Analytics for achieving Stage ... Model sm . In addition, CHS previously earned ... hospitals using an electronic medical record (EMR). ... high level of EMR usage in an outpatient ...
Breaking Biology News(10 mins):
(Date:10/11/2017)... ... 2017 , ... A new study published in Fertility and ... in vitro fertilization (IVF) transfer cycles. The multi-center matched cohort study ... comparing the results from the fresh and frozen transfer cohorts, the authors of ...
(Date:10/10/2017)... PA (PRWEB) , ... October 10, 2017 , ... ... City Science Center’s FirstHand program has won a US2020 STEM Mentoring Award. Representatives ... the award for Excellence in Volunteer Experience from US2020. , US2020’s mission is ...
(Date:10/10/2017)... ... October 10, 2017 , ... ... optimization firm for the life sciences and healthcare industries, announces a presentation by ... Francisco. , The presentation, “Automating GxP Validation for Agile Cloud Platforms,” will present ...
(Date:10/9/2017)... N.C. (PRWEB) , ... October 09, 2017 , ... At ... announced Dr. Christopher Stubbs, a professor in Harvard University’s Departments of Physics and Astronomy, ... Stubbs was a member of the winning team for the 2015 Breakthrough Prize in ...
Breaking Biology Technology: