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Calypte Biomedical Corp. (ticker: CALY, exchange: OTC Bulletin Board) News Release - 26-Jun-2003
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Calypte Receives Another Order from Its Primary China Distributor for 150,000 Tests
ALAMEDA, Calif.--(BUSINESS WIRE)--June 26, 2003--Calypte Biomedical Corporation (OTCBB:CYPT), the developer and marketer of the only two FDA approved HIV-1 antibody tests for use with urine samples, announced that it has received an additional order for Urine HIV-1 EIA tests from its Chinese distributor, Zhong Yang Pute Co. ("ZYPute"), a distributor of medical products in China.
Calypte signed an exclusive two-year distributor agreement with ZYPute in October 2002. Calypte's first order from ZYPute for approximately 112,000 tests was shipped in December 2002 upon receipt of a Letter of Credit payment. The additional order, for 150,000 tests, was originally expected to ship in Q1, 2003. However, the Chinese SARS problem that was emerging at that time created widespread disruptions both in the normal delivery of healthcare, as well as in distribution logistics. Now that the SARS problem has dissipated, ZYPute has requested that the shipment proceed.
Jay Oyakawa, President and COO of Calypte, stated, "Clearly it has been a challenge to maintain momentum in light of the difficulties created by SARS, but we are pleased to acknowledge the hard work that ZYPute is doing in China. Together, our two companies are working very closely to achieve success in a market characterized both by unique opportunities and challenges."
About Calypte Biomedical
Calypte Biomedical Corporation, headquartered in Alameda, California, is a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services for Human Immunodeficiency Virus Type 1 (HIV-1), sexually transmitted diseases and other infectious diseases. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, our testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test(a). The company believes that accurate, non-invasive urine-based testing methods for HIV and other infectious diseases may make important contributions to public health by helping to foster an environment in which testing may be done safely, economically, and painlessly. Calypte markets its products in countries worldwide through international distributors and strategic partners.
(a) "The performance of testing urine samples for HIV-1 antibodies is reduced in some populations in comparison to testing blood. Please refer to the product inserts for details."
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the year ended December 31, 2002 and its subsequent filings with the SEC.
CONTACT: Calypte Biomedical Corporation
Company Contact: Richard VanMaanen, 613/728-3130 email:dvanmaanen@calypte.com www.calypte.com
SOURCE: Calypte Biomedical Corporation
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Calypte Receives Another Order from Its Primary China Distributor for 150,000 Tests
ALAMEDA, Calif.--(BUSINESS WIRE)--June 26, 2003--Calypte Biomedical Corporation (OTCBB:CYPT), the developer and marketer of the only two FDA approved HIV-1 antibody tests for use with urine samples, announced that it has received an additional order for Urine HIV-1 EIA tests from its Chinese distributor, Zhong Yang Pute Co. ("ZYPute"), a distributor of medical products in China.
Calypte signed an exclusive two-year distributor agreement with ZYPute in October 2002. Calypte's first order from ZYPute for approximately 112,000 tests was shipped in December 2002 upon receipt of a Letter of Credit payment. The additional order, for 150,000 tests, was originally expected to ship in Q1, 2003. However, the Chinese SARS problem that was emerging at that time created widespread disruptions both in the normal delivery of healthcare, as well as in distribution logistics. Now that the SARS problem has dissipated, ZYPute has requested that the shipment proceed.
Jay Oyakawa, President and COO of Calypte, stated, "Clearly it has been a challenge to maintain momentum in light of the difficulties created by SARS, but we are pleased to acknowledge the hard work that ZYPute is doing in China. Together, our two companies are working very closely to achieve success in a market characterized both by unique opportunities and challenges."
About Calypte Biomedical
Calypte Biomedical Corporation, headquartered in Alameda, California, is a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services for Human Immunodeficiency Virus Type 1 (HIV-1), sexually transmitted diseases and other infectious diseases. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, our testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test(a). The company believes that accurate, non-invasive urine-based testing methods for HIV and other infectious diseases may make important contributions to public health by helping to foster an environment in which testing may be done safely, economically, and painlessly. Calypte markets its products in countries worldwide through international distributors and strategic partners.
(a) "The performance of testing urine samples for HIV-1 antibodies is reduced in some populations in comparison to testing blood. Please refer to the product inserts for details."
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K for the year ended December 31, 2002 and its subsequent filings with the SEC.
CONTACT: Calypte Biomedical Corporation
Company Contact: Richard VanMaanen, 613/728-3130 email:dvanmaanen@calypte.com www.calypte.com
SOURCE: Calypte Biomedical Corporation
