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Technology Stocks : SYNSORB (T.SYB)(SYBBF) CURE FOR CANCER? -- Ignore unavailable to you. Want to Upgrade?

To: Tupulak who wrote (90)	1/13/2000 8:55:00 AM
From: Tupulak	Read Replies (1) \| Respond to of 164

Canadian Company Press Release SYB 2000-01-12 (provided courtesy of Canadian Corporate News.) register to receive future releases by email from CCN SYNSORB Biotech Inc. Bought Deal Increased To $21 Million CALGARY, ALBERTA-- NOT FOR RELEASE INTO THE UNITED STATES SYNSORB Biotech Inc. ("SYNSORB") (TSE: SYB; NASDAQ: SYBB) announces, further to its notice this morning, that the terms of the agreement with a syndicate of underwriters led by Yorkton Securities Inc., which includes Canaccord Capital Corp., Dundee Securities Corp. and Loewen, Ondaatje, McCutcheon Ltd., have been revised in order to issue and sell 6,000,000 Common Shares in the capital of SYNSORB at a price of $3.50 per Common Share for gross proceeds of $21,000,000 with an option to the Underwriters to increase the issue to 6,900,000 Common Shares ($24,150,000). The transaction is subject to the receipt of all necessary regulatory and stock exchange approvals and to the execution of definitive documentation. SYNSORB will be filing a preliminary prospectus qualifying the Common Shares forthwith. The Common Shares have not and will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. SYNSORB is a Canadian-based pharmaceutical company dedicated to drug development and manufacturing. The Company has two late-stage products, both of which are based on SYNSORB's proprietary carbohydrate chemistry platform technology. SYNSORB Pk(R) is in Phase III clinical trials, and is designed to prevent the progression to Hemolytic Uremic Syndrome (HUS) in children who have contracted verotoxigenic E. coli (VTEC) infections, including E. coli O157:H7. SYNSORB Cd(R) will commence Phase III trials in the first part of 2000, and is designed to treat recurrent antibiotic-associated diarrhea (CDAD), a common hospital acquired infection. SYNSORB has built a cGMP-compliant manufacturing facility that has the capacity to meet or exceed the expected global demand for the Company's products. A pipeline of future products is accessible through subsidiary companies and SYNSORB's carbohybrid program. Shares of SYNSORB Biotech Inc. trade on the Toronto Stock Exchange in Canada (symbol "SYB") and on NASDAQ in the United States (ticker "SYBB"). This release contains certain forward-looking statements which involve known and unknown risks, delays, uncertainties and other factors not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include results of current or pending clinical trials, actions by the FDA/HPB and those factors detailed in the Company's registration statement on Form 20 F filed with the Securities and Exchange Commission. -30- FOR FURTHER INFORMATION PLEASE CONTACT: SYNSORB Biotech Inc. David Cox President & CEO (403) 283-5900 (403) 283-5907 (FAX) dcox@SYNSORB.com or SYNSORB Biotech Inc. Doug Ball Vice President & CFO (403) 283-5900 (403) 283-5907 (FAX) dball@SYNSORB.com or SYNSORB Biotech Inc. Douglas Froom Vice President Business Development (403) 270-1317 (403) 283-5907 (FAX) dfroom@synsorb.com synsorb.com