Navigation Links
CardioGenics Raises $1.9 Million in Private Placement
Date:11/4/2010

MISSISSAUGA, Ontario, Nov. 4, 2010 /PRNewswire/ -- CardioGenics Holdings Inc. (OTC Bulletin Board: CGNH) announced today that it has completed a private placement under which it has raised $1,930,575. The shares issued in connection with the private placement do not have registration rights and are, therefore, subject to the rights and restrictions of Rule 144. Further, no warrants were issued in connection with the private placement.

The funding provides the Company with sufficient capital to complete clinical testing of its QL Care™ Analyzer and its first cardiovascular test, Troponin-I, and to process the 510K application for its QL Care™ Analyzer and Troponin-I  test through FDA approval. In addition, the funding will also permit the Company to commence work on its other three (3) cardiovascular tests which will be commercialized after the Company's Troponin-I test receives FDA approval. The PAI-1 test will be commercialized after the first heart failure tests receive FDA approval.

The Company will also be filing a Current Report on Form 8-K with further details regarding the private placement.

About CardioGenics Holdings Inc.

Through its operating subsidiaries, the Company develops ultra-sensitive analyzers and other products targeting the immunoassay segment of the Point-Of-Care IVD testing market. It has developed the QL Care™ Analyzer, a proprietary and ultra-sensitive Point-Of-Care immuno-analyzer, which will run a number of diagnostic tests under development, the first of which will be a series of cardiovascular diagnostic tests. As part of its core proprietary technology, the Company has also developed a proprietary method for silver coating paramagnetic microspheres (a fundamental platform component of immunoassay equipment), which improve instrument sensitivity to light. The Company's principal offices are located in Mississauga, Ontario, Canada. For more information please visit www.cardiogenics.com.

Safe Harbor Statement - Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "anticipate, "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the Company's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the Company's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.


'/>"/>
SOURCE CardioGenics Holdings Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. CardioGenics Featured on Cover of Medical Device & Diagnostic Industry Magazine
2. Zacks Rates CardioGenics Outperform With Six-Month Target of $1.22
3. CardioGenics Featured on Canadas Business News Network
4. CardioGenics Holdings Inc. Receives New Ticker Symbol
5. CardioGenics Selects Clinical Test Sites for Its High Speed Portable Blood Analyzer
6. New Corporate Profile Posted On CardioGenics Website
7. CardioGenics Announces Reverse Stock Split
8. CardioGenics Announces Update Regarding Status of Merck Agreement
9. CardioGenics to be Spotlighted in Three Publications During Month of April
10. CardioGenics Announces Lock-Up Agreement with Dr. Yahia Gawad
11. CardioGenics Announces Further Update Regarding Status of Merck Agreement
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)...  Eli Lilly and Company (NYSE: ... million in its U.S. operations in 2017. The ... including research laboratories, manufacturing sites, and general and ... demand for Lilly products, as well as its ... cancer, pain, diabetes and other unmet medical needs.  ...
(Date:3/24/2017)... 23, 2017  Mirabilis Medical, a ... for non-invasive surgery, announced today CE Mark authorization ... of uterine fibroids throughout the European Union.  The ... from the US Food and Drug Administration to ... in the United States.  The Mirabilis System combines ...
(Date:3/24/2017)... and GENEVA , March ... on World Tuberculosis Day revitalizes efforts to develop sutezolid ... On World Tuberculosis Day, TB Alliance and the ... the clinical development of sutezolid, an antibiotic drug candidate ... pertains to the development of sutezolid in combination with ...
Breaking Medicine Technology:
(Date:3/24/2017)... ... March 24, 2017 , ... Shamanic healer and teacher Anahata ... and Spiritual Awakening, proudly presents her Sacred Peru retreat with world famous ... spiritual journey during the Summer Solstice will also be her final international retreat, ...
(Date:3/24/2017)... ... March 24, 2017 , ... As the standards ... a communications platform that positions them as the go-to thought leader in all ... online publication as an always-on, always-fresh news, views and advocacy engine, called ONS ...
(Date:3/24/2017)... ... March 24, 2017 , ... ... at the Advanced ERISA Benefit Claims Litigation seminar in Chicago, Illinois. She ... Record, The majority of cases litigated under ERISA involve claims for long-term disability ...
(Date:3/24/2017)... ... ... Viewers who like to educate themselves on current issues and who enjoy gaining ... issues tend to appreciate and love the "Informed" series, hosted by Rob Lowe. ... causes around the world. , Running for charity has become a multi-million ...
(Date:3/24/2017)... ... March 24, 2017 , ... Empower Brokerage, located in Southlake, ... leads programs. , In February, 2017, Empower Brokerage introduced their new “Performance Partners” ... designed to teach how to maximize their sales efforts, as well as how ...
Breaking Medicine News(10 mins):