LA JOLLA, Calif., Oct. 3 /PRNewswire/ -- Advanced Tissue Sciences, Inc.
(Nasdaq: ATIS) today announced the effectiveness of an S-3 Registration
Statement covering the sale of 3,494,365 shares of its common stock. The
stock was purchased by the State of Wisconsin Investment Board in a
$20 million private placement announced on September 20, 2000.
Advanced Tissue Sciences is a tissue engineering company utilizing its
proprietary core technology to develop and manufacture human-based tissue
products for tissue repair and transplantation. The Company has two joint
ventures with Smith & Nephew plc. The first covers the application of
Advanced Tissue Sciences' tissue engineering technology for skin wounds and
includes Dermagraft(R) for the treatment of diabetic foot ulcers,
TransCyte(TM) for the temporary covering of second and third-degree burns, and
future developments for venous ulcers, pressure ulcers, burns and other
non-aesthetic wound care treatments. The second joint venture is developing
tissue-engineered orthopedic cartilage, initially focusing on the repair of
cartilage in knee joints. The Company also has a strategic alliance with
Inamed Corporation for the development and marketing of several of Advanced
Tissue Sciences' human-based, tissue-engineered products for aesthetic and
certain reconstructive applications. In addition, the Company is developing
products for cardiovascular applications. For more information on Advanced
Tissue Sciences visit our web site at http://www.advancedtissue.com.
Statements in this press release that are not strictly historical may be
"forward-looking" statements which involve risks and uncertainties. No
assurances can be given that the Company will be able to obtain additional
financing to continue operations when needed, that the Company will
successfully develop or commercialize its products, complete clinical trials,
obtain regulatory approvals (or that any such approvals will be obtained on a
timely basis), or be able to manufacture or successfully commercialize such
products. These as well as other risks are detailed from time to time in
publicly available filings with the Securities and Exchange Commission,
including without limitation, Advanced Tissue Sciences' Quarterly Report on
Form 10-Q for the quarter ended June 30, 2000. The Company undertakes no
obligation to release publicly the results of any revision to these
forward-looking statements to reflect events or circumstances arising after
the date hereof.
SOURCE Advanced Tissue Sciences, Inc.
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Related links:
http://www.advancedtissue.com
Company News On-Call:
http://www.prnewswire.com/comp/532975.html or fax,
800-758-5804, ext. 532975
CONTACT:
Jana Stoudemire, Senior Director, Corporate
Communications of Advanced Tissue Sciences, Inc., 858-713-7802
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