Adeza Biomedical Closes $13 Million Financing.SUNNYVALE, Calif.--(BUSINESS WIRE)--Nov. 11, 1996--Adeza Biomedical Corp. ("Adeza") announced the closing of a $13 million round of financing through the sale of Series 3 convertible preferred stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". to an investor syndicate led by The Sprout Group. Prudential Securities acted as the agent for the offering. Daniel O. Wilds, Adeza's president and chief executive officer, stated, "We believe that this financing will provide the company with funding well into 1998 enabling the company to increase its domestic and international sales efforts and fund research, development and clinical trials for new products." Adeza Biomedical is a Sunnyvale biotechnology company that develops, manufacturers and markets biomedical products and services specifically for women's pregnancy and reproductive health care problems including premature and late birth, preeclampsia preeclampsia /pre·eclamp·sia/ (pre?e-klamp´se-ah) a toxemia of late pregnancy, characterized by hypertension, proteinuria, and edema. pre·e·clamp·si·a n. , endometriosis and infertility. Adeza's Fetal Fibronectin Test is the only immunodiagnostic immunodiagnostic pertaining to diagnosis by immune reactions. test approved by the FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. to aid in detecting the risk of preterm preterm /pre·term/ (-term´) before completion of the full term; said of pregnancy or of an infant. pre·term adj. delivery. CONTACT: Adeza Biomedical Corp. Brian C. Unger, 408/745-0975 or Prudential Securities Incorporated Jonathan Burkland, 212/778-3210 |
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