Biocontrol Receives $10 Million Equity Line of Credit.PITTSBURGH--(BUSINESS WIRE)--Nov. 19, 1998--Biocontrol Technology Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BICO BICO Bicolor ) announced today that the company has received a $10 million equity line of credit (LOC LOC - lines of code ) arranged by the New York City-based May Davis Group investment banking firm. The company expects to commence utilizing this financing early in 1999 subject to an effective registration statement. Fred E. Cooper, Biocontrol bi·o·con·trol n. See biological control. biocontrol See biological control. chief executive officer, stated that this line of credit demonstrates the strong financial support of the company while efforts continue to arrange mergers, acquisitions, and strategic alliances for the subsidiaries and licensing outside the U.S. for the Diasensor(R) 1000 noninvasive glucose sensor. Biocontrol Technology Inc. (www.bico.com) has its corporate offices in Pittsburgh and is involved in the development and manufacture of biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. devices and environmental products. Regularly updated recorded information on Biocontrol Technology is also available via the Investor's Line at 1-800-357-6204. |
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