Calypte Biomedical Raises an Additional $1.5 Million in Private Placement

Share Name	Share Symbol	Market	Type
Cryoport (MM)	NASDAQ:CYPT	NASDAQ	Common Stock

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NASDAQ:CYPT

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Calypte Biomedical Raises an Additional $1.5 Million in Private Placement

13/07/2004 2:30pm

PR Newswire (US)

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Calypte Biomedical Raises an Additional $1.5 Million in Private Placement PLEASANTON, Calif., July 13 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (OTC:CYPT) (BULLETIN BOARD: CYPT) announced today that it has raised an additional $1.5 million in a private placement to accredited investors. The Company has issued 3.7 million shares of its common stock at $0.40 per share and five-year warrants to purchase 2.6 million shares of its common stock at $0.50 per share. The proceeds are expected to be used primarily for general working capital purposes. The Company plans to file a registration statement in connection with the private placement to register the shares of common stock issued and the shares of common stock underlying the warrants granted. About Calypte Biomedical: Calypte Biomedical Corporation, headquartered in Pleasanton, 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: Richard Brounstein, CFO (925) 730-7200 email: Investor Relations Contact: Tim Clemensen, Rubenstein Investor Relations Phone: 212-843-9337 Email: DATASOURCE: Calypte Biomedical Corporation CONTACT: Richard Brounstein, CFO of Calypte Biomedical Corporation, +1-925-730-7200, ; or Tim Clemensen of Rubenstein Investor Relations, +1-212-843-9337, for Calypte Biomedical Corporation Web site: http://www.calypte.com/

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