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Financings in Brief: Calypte Biomedical

This article was originally published in The Gray Sheet

Executive Summary

Calypte Biomedical: Private placement of common stock through placement agent Pacific Growth Equities raises $10 mil. The proceeds will allow the Alameda, California firm to complete scale-up of manufacturing for its urine-based test for HIV-1. In September, Cambridge Biotech received an approvable letter for the urine-based Western Blot confirmatory test for use in conjunction with the Calypte test ("The Gray Sheet" Sept. 22, In Brief). Funds from the offering will also "allow us to initiate the development of additional urine-based diagnostic tests including the Calypte HIV-1 urine test for home collection, and to undertake the clinical trials required for this application," President and CEO Jack Davis states...
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