Haemacure Raises $7.8 Million and is Fully Funded Beyond First-Patient...( HAE...),Health

HAE:TSX

MONTREAL, June 16 /PRNewswire-FirstCall/ - Haemacure Corporation (TSX : HAE), a Montreal-based specialty bio-therapeutics company developing high-value human plasma-derived protein products for commercialization, announces that it has raised $7.8 million through the exercise of amended Series B warrants and broker warrants issued as part of the private placement concluded in January 2007.

"I sincerely thank our shareholders who demonstrated their strong support by exercising their warrants. We now have the financial resources to execute on all of the necessary milestones to get our fibrin sealant into the clinic in Q1-09. This financing significantly reduces the financial risk. All of our time and attention will be focused on execution and getting a green light from the FDA to enter clinical trials." said Joseph Galli, Chairman and CEO of Haemacure.

Manufacturing Facility

On June 4th, Haemacure began fractionating plasma in its new facility in Sarasota, Florida. It is on-schedule and on-budget to produce fibrin sealant clinical lots during Q3-08 and to file an amendment to its existing IND with the U.S. FDA during Q4-08.

Haemacure's fractionation facility is the first and only U.S.-based manufacturing facility for fibrin sealant destined for the U.S. market and this is of significant strategic value.

Fibrin Sealant Pivotal Clinical Trials

The safety of Haemacure's lead product candidate, all-human fibrin sealant, was demonstrated in past clinical trials as no serious adverse events related to the product were reported. The efficacy of the product was also significantly superior to the standard of care used in the control group.

New Preclinical Study in Adhesion Prevention

Encouraged by the positive results of the preclinical study Haemacure conducted on the efficacy of its all-human fibrin sealant in preventing the formation of post-surgical adhesions, Haemacu
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