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Response Biomedical Completes Initial Closing of an expected $5.0 Million Financing
Date:10/28/2008

xcept pursuant to an available exemption from such registration requirements.

Statements contained in this press release relating to future results, events or developments, including statements regarding the use of proceeds of the offering and the Company's partnering efforts, are "forward-looking statements" or "forward-looking information" under applicable United States and Canadian securities laws. Forward-looking statements and information can often be identified by the use of the words "believes," "may," "could", "plans," "will," "estimate," "continue," "anticipates," "intends," "expects", "goal" and similar expressions, Forward-looking statements or information are subject to the related assumptions made by us and involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from those expressed or implied by such statements or information.

Many of such risks, uncertainties and other factors form part of our underlying assumptions, and include, among other things, financial risks that would affect our operations such as our available working capital and cash flows and whether and for how long available funds will be sufficient to fund our operations and our ability to raise additional capital as and when needed; our need for substantial additional funding to conduct research and development and commercialization activities; changing facility costs and other risks relating to our facilities expansion plans; our ability to establish, and our dependence upon, relationships with strategic alliance partners to develop and commercialize products; technological changes that impact our existing products or our ability to develop and commercialize our products; our ability to obtain and enforce timely patent and other intellectual property protection for our technology and products; our ability to obtain and maintain rights to technology from licensors; liability for paten
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