BIOLOGIX confirms key venture capital and strategic alliances.SAN FRANCISCO--(BUSINESS WIRE)--Nov. 29, 1995--The BIOLOGIX board of directors announced it has finalized its strategic alliances with an advanced medical institute and venture capital firm pursuant to financing and diversification of its business enterprise. Terms of the arrangements call for up $8.5 million in private financing, access to additional investment capital as required, and a dramatic expansion of the company's scientific and management advisory boards. Avonwood Capital Corp. of Pennsylvania is a venture capital firm specializing in emerging growth small market cap opportunities and will play a pivotal mezzanine and bridge-financing role in the company's effort to diversify its business activity through strategic alliances with other innovative medical technology companies. The Advanced Health Institute of Technology of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of is established as a holding company to provide financing, management and marketing talent to emerging growth companies in the medical field. AHIT AHIT American Home Inspectors Training (Institute; Waukesha, Wisconsin) AHIT Attack Helicopter Instrumented Test will play a significant role with BIOLOGIX in tapping additional on-going sources of growth capital, providing ready access to leaders within the medical community, and cost-effectively accessing strong management and marketing talent for a diversified portfolio of companies. BIOLOGIX Management and Scientific Advisory Board has also been expanded to include a number of experienced nationally recognized leaders in health care, investment banking, and corporate management, as well as a panel of some of the most widely known and respected members of the U.S. medical establishment. BIOLOGIX management and scientific advisors are expected to actively assist company management in assessing new business opportunities, identifying and executing financings, and introducing new products and technologies to the market. Donald J. Shea, former Clairol president and Bristol-Myers Squibb Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were senior executive, will head the management advisory board. Dr. D. Walter Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. , chancellor of the Medical College of Pennsylvania Medical College of Pennsylvania, formerly in Philadelphia; chartered and opened 1850 as the Female Medical College of Pennsylvania; became Woman's Medical College of Pennsylvania 1867, Medical College of Pennsylvania 1970. , will chair the scientific advisory group. James Porter, president of Avonwood Capital, will take the lead in investment banking activity. Management considers these alliances and the related financing as significant events in meeting BIOLOGIX plans for strategic diversification and commercialization of its proprietary product lines. BIOLOGIX was recently granted a European patent for its hand-held point-of-care diagnostic instrument and disposable biosensor A device that detects and analyzes body movement, temperature or fluids and turns it into an electronic signal. See lab on a chip and data glove. Biosensor system, and ratification in up to 11 individual European countries has already been confirmed in Switzerland, France and Germany. This is expected to open up the European market for accelerating sales of the company's point-of-care products prior to 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. approval in the United States. BIOLOGIX is currently listed as a NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. company and as a result of these latest announcements is now reported to be proceeding immediately toward final registration and reporting under the 1934 U.S. Securities and Exchange Act. CONTACT: BIOLOGIX Michael Grandon, 415/954-8500 Donald Hejmanowski, 800/828-BGIX |
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