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Biotech / Medical : HEMASURE (HMSR) - Buyout in the works? -- Ignore unavailable to you. Want to Upgrade?

To: bruce bell who wrote (81)	10/10/1999 6:01:00 PM
From: brian salerno	Respond to of 88

HemaSure Inc. (ticker: HMSR, exchange: OTC Bulletin Board) News Release - Thursday, October 07, 1999 HemaSure Inc. Announces Partner COBE Laboratories To Purchase Additional $3 Million of HemaSure Stock COBE Exercises Option From May 1999 $9 Million Private Placement Financing MARLBOROUGH, Mass., Oct. 7 /PRNewswire/ -- HemaSure Inc. (OTC Bulletin Board: HMSR), a developer and supplier of blood filtration technologies, announced today that COBE Laboratories, Inc. (COBE) has exercised an option to purchase $3 million of HemaSure common stock as part of its May 1999 private placement agreement with the Company. The private placement agreement with COBE provided for an initial investment of $9 million in exchange for 4.5 million shares of HemaSure's common stock. The agreement also provided COBE with the option to purchase an additional $3 million of HemaSure common stock at any time between August 3, 1999 and May 3, 2000 at market prices. COBE is wholly owned by Gambro AB (Stockholm Stock Exchange: GAMBaST, GAMBbST), a manufacturer and provider of medical devices and services throughout the world. In accordance with the agreement, COBE will purchase 498,355 shares at a price of $6.02 per share. The price and number of issued shares reflects the average price of HemaSure stock in the 30 days prior to the exercise date of October 5, 1999. Stated HemaSure President and Chief Executive Officer Jack McGuire, "We are very pleased that COBE Laboratories, one of the world's leading manufacturers of automated blood component collection systems, continues to demonstrate such confidence in HemaSure. We believe that COBE's decision to make this significant additional investment in HemaSure is further validation of the strength of our technology and the continuing success of our growth strategy." "We are excited to have begun to ship products to customers in the U.S. and Europe through our distribution agreement with COBE as well as to the American Red Cross through our supply agreement with that nationally recognized organization. This new capital received from COBE should help support the scale up of manufacturing to meet customer demand," concluded McGuire. Stated Ed Wood, President of COBE BCT, Inc., a wholly owned operating subsidiary of COBE, "Our increased investment reflects both the high quality of the r\LS filter system produced by HemaSure as well as the tremendous growth in worldwide market demand for leukoreduced blood products. By integrating technologies such as the COBE Trima Automated Blood Collection System and the r\LS system, COBE is able to offer a superior red blood cell filtration product and better capitalize on the rapidly growing global trend toward 100% leukoreduction." In connection with the May 1999 financing agreement, HemaSure completed an Amended and Restated Exclusive Distribution Agreement with COBE. The amended distribution agreement expanded the territory in which COBE distributes the Company's products to make it worldwide, excluding sales to the American Red Cross. There is also a provision allowing for the development of additional HemaSure products to be incorporated by COBE into that company's product catalogue. COBE BCT, Inc., based in Lakewood, Colorado, is a leading manufacturer of devices used by blood banks and hospitals for the collection and separation of blood components and in numerous therapies involving the collection, separation and processing of blood components. HemaSure Inc. develops and delivers innovative filtration technologies designed to help meet today's increasing demand for a safer, more reliable blood supply. Based in Marlborough, Massachusetts, the Company's blood filtration technologies are designed to reduce to trace levels virus-carrying leukocytes in donated blood. HemaSure has developed its next-generation r\LS Red Blood Cell Filtration System to provide high-volume, centralized, pre-storage leukoreduction in blood centers. Any statements contained herein that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve risks and uncertainties. Potential factors could cause actual results to differ materially from those expressed or implied by such statements. These statements include, but are not limited to, those relating to the Company's product development, distribution and financing agreement with COBE. Information on the potential factors that could affect the Company's actual results of operations are included in its filings with the Securities and Exchange Commission, including but not limited to its Annual Report on Form 10-K for the fiscal year ended December 31, 1998. Contact: James B. Murphy, Senior Vice President, Finance and Administration of HemaSure Inc., 508-490-9500 SOURCE HemaSure Inc.