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:4/15/2016)... 2016 Research and Markets has ... Market 2016-2020,"  report to their offering.  , ... ,The global gait biometrics market is expected to ... period 2016-2020. Gait analysis generates multiple ... used to compute factors that are not or ...
(Date:3/31/2016)... BOCA RATON, Florida , March 31, 2016 /PRNewswire/ ... LEGX ) ("LegacyXChange" or the "Company") ... presentation for potential users of its soon to be ... The video ( https://www.youtube.com/channel/UCyTLBzmZogV1y2D6bDkBX5g ) will also ... by the use of DNA technology to an industry ...
(Date:3/23/2016)... Massachusetts , March 23, 2016 /PRNewswire/ ... im Interesse erhöhter Sicherheit Gesichts- und Stimmerkennung ... Xura, Inc. (NASDAQ: MESG ), ... bekannt, dass das Unternehmen mit SpeechPro zusammenarbeitet, ... aus der Finanzdienstleistungsbranche, wird die Möglichkeit angeboten, ...
Breaking Biology News(10 mins):
(Date:6/24/2016)... ... June 24, 2016 , ... While the majority of commercial ... Cary 5000 and the 6000i models are higher end machines that use the more ... the spectrophotometer’s light beam from the bottom of the cuvette holder. , FireflySci ...
(Date:6/23/2016)... , June 23, 2016 /PRNewswire/ - FACIT has ... Ontario biotechnology company, Propellon Therapeutics Inc. ... and commercialization of a portfolio of first-in-class WDR5 ... targets such as WDR5 represent an exciting class ... in precision medicine for cancer patients. Substantial advances ...
(Date:6/23/2016)...  The Biodesign Challenge (BDC), a university competition that ... living systems and biotechnology, announced its winning teams at ... New York City . The teams, ... at MoMA,s Celeste Bartos Theater during the daylong summit. ... curator of architecture and design, and Suzanne Lee ...
(Date:6/23/2016)... Apellis Pharmaceuticals, Inc. today announced positive ... its complement C3 inhibitor, APL-2. The trials were ... studies designed to assess the safety, tolerability, pharmacokinetics ... healthy adult volunteers. Forty subjects were ... dose (ranging from 45 to 1,440mg) or repeated ...
Breaking Biology Technology: