CAMBRIDGE, Mass., Jan. 17 /PRNewswire-FirstCall/ -- Biopure Corporation
(Nasdaq: BPUR) announced today the closing of an underwritten public offering
of stock and warrants that raised net proceeds to Biopure of approximately
$3.0 million assuming no exercise of the warrants. Biopure sold to
institutional and individual investors 4,110,000 new shares of its common
stock and warrants to acquire an additional 4,110,000 new shares. The price
for one share and one warrant was $0.82, and the exercise price of each
warrant is $1.025. All of the warrants issued in the offering are callable by
Biopure after six months provided that the weighted average price of Biopure's
common stock for ten consecutive days is over $1.5375. Dawson James
Securities, Inc. and Noble International Investments, Inc. acted as the
managing underwriters for the public offering.
Biopure intends to use the proceeds from this offering for general
corporate and working capital purposes.
Biopure Corporation develops, manufactures and markets pharmaceuticals,
called oxygen therapeutics, that are intravenously administered to transport
oxygen to the body's tissues. The company is developing Hemopure(R)
[hemoglobin glutamer - 250 (bovine)], or HBOC-201, for a potential indication
in cardiovascular ischemia and, in collaboration with the U.S. Naval Medical
Research Center, for a potential out-of-hospital trauma indication. The
product is approved in South Africa for treating surgery patients who are
acutely anemic and for eliminating, delaying or reducing allogeneic red blood
cell transfusions in these patients. Hemopure has not been approved for sale
in other jurisdictions, including the United States or the European Union.
Biopure's veterinary product Oxyglobin(R) [hemoglobin glutamer - 200
(bovine)], or HBOC-301, the only oxygen therapeutic approved by the U.S. Food
and Drug Administration and the European Commission, is indicated for the
treatment of anemia in dogs.
Contact:
Douglas Sayles Herb Lanzet (Investors)
Biopure Corporation H.L. Lanzet Inc.
(617) 234-6826 (212) 888-4570
IR@biopure.com lanzet@aol.com
SOURCE Biopure Corporation
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Related links:
http://www.biopure.com
Company News On-Call:
http://www.prnewswire.com/comp/131224.html
CONTACT:
Douglas Sayles of Biopure Corporation,
+1-617-234-6826, IR@biopure.com; or Herb Lanzet, Investors
Contact of H.L. Lanzet Inc., +1-212-888-4570, lanzet@aol.com
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