Bioenvision (NASDAQ:BIVN)
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Bioenvision, Inc. (Nasdaq: BIVN) today announced that it had priced its
registered direct offering of 8 million shares of common stock at a
price to the public of $3.75 per share. The shares are being offered
under Bioenvision’s effective shelf
registration statement previously filed with the Securities and Exchange
Commission. Proceeds to Bioenvision from this registered direct
offering, net of offering expenses and placement agency fees, total
approximately $27.6 million.
J.P. Morgan Securities Inc. acted as the exclusive placement agent in
this offering. The closing of the transaction is expected to occur on or
about April 4, 2007, subject to the satisfaction of customary closing
conditions.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About Bioenvision
Bioenvision's primary focus is the acquisition, development and
marketing of compounds and technologies for the treatment of cancer.
Bioenvision has a broad pipeline of products for the treatment of
cancer, including: Evoltra®,
Modrenal® (for which
Bioenvision has obtained regulatory approval for marketing in the United
Kingdom for the treatment of post-menopausal breast cancer following
relapse to initial hormone therapy), and other products. Bioenvision is
also developing Suvus®,
which is currently in clinical development for refractory chronic
hepatitis C infection. For more information on Bioenvision please visit
our Web site at www.bioenvision.com.
Certain statements contained herein are "forward-looking" statements
(as such term is defined in the Private Securities Litigation Reform Act
of 1995). Because these statements include risks and uncertainties,
actual results may differ materially from those expressed or implied by
such forward-looking statements. Specifically, factors that could cause
actual results to differ materially from those expressed or implied by
such forward-looking statements include, but are not limited to: risks
associated with preclinical and clinical developments in the
biopharmaceutical industry in general and in Bioenvision's compounds
under development in particular; the potential failure of Bioenvision's
compounds under development to prove safe and effective for treatment of
disease; uncertainties inherent in the early stage of Bioenvision's
compounds under development; failure to successfully implement or
complete clinical trials; failure to receive marketing clearance from
regulatory agencies for our compounds under development; acquisitions,
divestitures, mergers, licenses or strategic initiatives that change
Bioenvision's business, structure or projections; the development of
competing products; uncertainties related to Bioenvision's dependence on
third parties and partners; and those risks described in Bioenvision's
filings with the SEC. Bioenvision disclaims any obligation to update
these forward-looking statements.