First news out, more to come!!!
HEMISPHERX BIOPHARMA EUROPE ENTERS INVESTMENT BANKING RELATIONS WITH MAJOR EUROPEAN INSTITUTIONS
BRUSSELS, Belgium, Dec 8, 1999 /PRNewswire via COMTEX/ -- Hemispherx
Biopharma (Amex: HEB) said today it started the process of a private
placement for its subsidiary HEB-EU. HEB-EU, which has a marketing
application pending in the European Union (EU) for treatment of Chronic
Fatigue Syndrome/Myalgic Encephalitis (CFS/ME), was founded to develop
and market certain novel anti-viral products, including Ampligen(R) for
untreatable chronic and life-threatening human viral disorders.
Quadra Invest and Arthur Anderson Corporate Finance Belgium have been
mandated to organize the private placement. Quadra Invest is the
venture capital division of Dexia, one of the largest Belgian banks.
Arthur Anderson Corporate Finance is a division of Arthur Anderson, a
leading professional services organization.
In addition, Quadra Invest formally notified HEB-EU that their group
would take a percentage of the equity placement into their own
corporate account. Jurgen Ingels of Quadra Invest commented: "This
investment opportunity is exciting to us -- namely a product on the
cusp of commercialization, strong experienced management, and broad
patent coverage into a major untapped pharmaceutical market." Terms of
the investment were not disclosed.
William A. Carter, M.D., Chairman of Hemispherx Europe commented: "We
think HEB-EU is uniquely situated to capture a major position in the
European pharmaceutical arena, and as a result, to arouse significant
investor interest, both at the institutional and individual investor
level."
Information contained in this news release other than historical
information, should be considered forward-looking and is subject to
various risk factors and uncertainties. For instance, the strategies
and operations of Hemispherx involve risks of competition, changing
market conditions, changes in laws and regulations affecting these
industries and numerous other factors discussed in this release and in
the Company's filings with the Securities and Exchange Commission.
Accordingly, actual results may differ materially from those in any
forward-looking statements.
SOURCE Hemispherx Biopharma
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
CONTACT: Richard Piani of Hemispherx Biopharma Europe, fax,
331-4624-8075, or William A. Carter, M.D., CEO of Hemispherx Biopharma U.S.,
215-988-0080; or Jurgen Ingels of Quadra Invest, fax, 322-222-8308; or Finance
- Dries Bossuyt, fax, 322-545-3199, or Investors - Diane Will, 214-954-9300,
fax, 214-954-9333, both of Arthur Anderson Corp.
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