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Calypte Files Registration Statement
Registering Primarily Previously Issued Shares
ALAMEDA, Calif., June 16 /PRNewswire-FirstCall/ -- Calypte Biomedical
Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT) , a developer, manufacturer and
marketer of HIV diagnostic tests, today announced that it has filed a
registration statement (the "Registration Statement") with the Securities and
Exchange Commission registering shares of common stock purchased and shares of
common stock underlying warrants purchased in its recent private placement (the
"May 2004 PIPE"), as well as other unregistered shares of common stock,
primarily owned by Marr Technologies BV, an affiliate of Calypte and its
largest stockholder.
Calypte currently has approximately 164 million shares of common stock issued
and outstanding, which includes approximately 71 million of the shares being
registered pursuant to the Registration Statement. These shares being
registered represent approximately 43% of the Company's currently issued and
outstanding common stock. Of the 71 million shares, approximately 51 million
are owned by affiliates of Calypte, and the balance by investors in the May
2004 PIPE other than affiliates of Calypte and other financings, as well as
vendors and consultants who have received common stock in lieu of cash.
The Registration Statement provides for the issuance of an additional 12
million shares, which includes approximately 9 million shares to be held for
issuance upon exercise of the warrants issued in the May 2004 PIPE. Affiliates
of Calypte hold about 70% of those warrants.
About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Northern California, is a
public healthcare company dedicated to the development and commercialization of
in vitro diagnostic tests, primarily for the detection of antibodies to Human
Immunodeficiency Virus (HIV), and other sexually transmitted and infectious
diseases. Calypte's currently marketed laboratory-based tests include an
enzyme immunoassay (EIA) HIV-1 antibody screening test and an HIV-1 antibody
western blot supplemental test, the only two FDA-approved HIV-1 antibody tests
for use on urine samples, as well as an FDA-approved serum HIV-1 antibody
western blot supplemental test. Calypte is actively engaged in developing new
test products for the rapid detection of HIV and other infectious diseases.
Calypte believes that there is a significant need for rapid detection of such
diseases globally to control their proliferation, particularly in
lesser-developed countries, which lack the medical infrastructure to support
laboratory-based testing. Calypte believes that testing for HIV and other
infectious diseases may make important contributions to public health.
Statements in this press release that are not historical facts are
forward-looking statements within the meaning of the Securities Act of 1933, as
amended. Those statements include statements regarding the intent, belief or
current expectations of the Company and its management. Such statements reflect
management's current views, are based on certain assumptions and involve risks
and uncertainties. Actual results, events, or performance may differ
materially from the above forward-looking statements due to a number of
important factors, and will be dependent upon a variety of factors, including,
but not limited to, the Company's ability to obtain additional financing and
access funds from its existing financing arrangements that will allow it to
continue its current and future operations and whether demand for its test
products in domestic and international markets will continue to expand. The
Company undertakes no obligation to publicly update these forward-looking
statements to reflect events or circumstances that occur after the date hereof
or to reflect any change in the Company's expectations with regard to these
forward-looking statements or the occurrence of unanticipated events. Factors
that may impact the Company's success are more fully disclosed in the Company's
most recent public filings with the U.S. Securities and Exchange Commission
("SEC"), including its annual report on Form 10-KSB for the year ended December
31, 2003 and its subsequent filings with the SEC.
Company Contact: Investor Relations Contact:
Richard Brounstein, CFO Tim Clemensen,
(510) 749-5100 Rubenstein Investor Relations
email: Phone: 212-843-9337
Email:
DATASOURCE: Calypte Biomedical Corporation
CONTACT: Richard Brounstein, CFO, +1-510-749-5100,
; Tim Clemensen, Rubenstein Investor Relations,
+1-212-843-9337, , for Calypte Biomedical
Corporation
Web site: http://www.calypte.com/