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Biotech / Medical : sciclone pharmaceuticals -- Ignore unavailable to you. Want to Upgrade?

To: 5handicap who wrote (382)	1/19/2000 10:31:00 AM
From: Skywatcher	Respond to of 1137

SciClone Pharmaceuticals Expands Capital Base SAN MATEO, Calif., Jan. 19 /PRNewswire/ -- SciClone Pharmaceuticals (Nasdaq: SCLN - news) today announced the completion of a $6,100,000 private placement with its largest institutional shareholder, The Brown Simpson Strategic Growth Funds. The newly acquired funds will be directed toward the distribution of ZADAXIN® in newly approved markets, several planned U.S. clinical trials and the achievement of profitable operations by the end of this year's final quarter. ''With this new vote of confidence from Brown Simpson, we have strengthened our balance sheet by over $10 million since the end of November,'' said Donald R. Sellers, SciClone's President and Chief Executive Officer. ''A stronger balance sheet will allow us to reinforce our ZADAXIN marketing efforts worldwide and accelerate our new U.S. clinical programs for hepatitis B, hepatitis C and liver cancer.'' ''SciClone's management has consistently delivered towards their plan to operate profitably by the end of this year,'' said Alfred Mansour, Ph.D., Senior Life Sciences Analyst at Brown Simpson. ''This has increased our excitement about their near-term status, and we have always been enthusiastic about their product pipeline.'' According to the terms of the current investment, Brown Simpson purchased 1,000,000 shares of newly issued common stock at a slight premium to market and warrants to purchase 800,000 additional shares at $7.00 per share. The warrants, if exercised, cannot be sold at less than $10.00 per share or until 9 months have passed. H.C. Wainwright & Co., Inc. served as the Company's placement agent for the offering. SciClone's flagship product, ZADAXIN, boosts the body's immune system, without any serious side effects, in the fight against life-threatening diseases such as hepatitis B, hepatitis C, HIV/AIDS and cancer. ZADAXIN currently is approved for sale in Italy and 15 additional countries throughout Asia, Latin America and the Middle East. SciClone has filed for ZADAXIN marketing approval in 19 additional countries. SciClone Pharmaceuticals is a global biopharmaceutical company that acquires, develops and commercializes specialist-oriented drugs for treating chronic and life-threatening diseases, such as hepatitis B, hepatitis C, cystic fibrosis, cancer and immune system disorders. Press releases and corporate information from SciClone Pharmaceuticals are available on the Internet at www.sciclone.com or by calling the Company's Investor Relations Department at 800-724-2566. SciClone's common stock is listed on the Nasdaq National Market under the symbol SCLN.