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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Robert C. Petersen who wrote (385)	1/27/1998 7:30:00 AM
From: CUBBY	Read Replies (1) \| Respond to of 4140

Sunrise Technologies International, Inc. Successfully Completes $9.35 Million Private Financing Tuesday, January 27 7:03 AM ET FREMONT, Calif. (BW HealthWire) - Sunrise Technologies International, Inc. (OTC:SNRS) today announced the completion of its private placement of 12% Convertible Subordinated Pay-In-Kind Notes Due 2001 and Warrants for a total amount of $9,350,000. According to C. Russell Trenary III, President and CEO, "A portion of the funds will be used to complete the final phase of our clinical study, submit our PMA (pre-market approval), and plan our launch activities associated with the Sunrise Corneal Shaping system for the treatment of hyperopia. The remaining proceeds will be used to fund operations into the year 2000. It is also worth noting that over 80% of the money raised came from ophthalmologists who have seen our clinical data or have experience using our system for treating hyperopia." Trenary added, "Two challenges facing Sunrise were to get our technology into the final phase of our FDA clinical study and to raise enough money to complete the FDA process. It has been six months since our new management team assumed leadership after the sale of the dental business, and I believe that with the completion of this successful offering we have addressed those two key issues." "I am very pleased to have completed this private placement in such a short time. We managed to raise over twice as much money compared to our 1997 private placement with significantly less dilution to our stockholders," stated Timothy A. Marcotte, Vice President, Finance and Chief Financial Officer. Founded in 1987, the Company produces and markets high technology