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ALAMAR BIOSCIENCES RAISES OVER $3.1 MILLION THROUGH PRIVATE FINANCINGS

 SACRAMENTO, Calif., Sept. 16 /PRNewswire/ -- Alamar Biosciences Inc. (NASDAQ: ALMR), a research and development company in the diagnostic testing product area, announced today that it has completed three separate financings that raised in the aggregate more than $3.1 million.
 Kenneth D. Miller, chief executive officer of Alamar, said, "The offering was anticipated to raise around $2 million; however, the final amount raised exceeded our expectations by over a million dollars." Miller said funds from the financings will primarily go toward marketing and research and development efforts as the company continues to develop its line of diagnostic testing products. Significant amounts have also been allocated to manufacturing ramp-up efforts.
 The first offering, which involved soliciting the company's private warrant holders to convert their warrants into Units, raised approximately $573,000 in net proceeds. In the second offering, the company placed $500,000 in Units to Commonwealth Associates Growth Fund Inc., yielding net proceeds of approximately $465,000. In the third offering, Alamar raised over $2,052,000 in a Regulation S offering to non-U.S. investors managed by Commonwealth Associates, as placement agent.
 Each Unit consists of one share of common stock and one warrant to purchase a share of common stock. The securities comprising the Units are not separable or separately transferable prior to 41 days after issuance.
 The terms of the warrants are the same as the company's public warrants, which trade on NASDAQ under the symbol ALMRW. Each warrant entitles the registered holder to purchase one share of common stock, commencing on the date the warrant becomes separately transferable until Oct. 14, 1997. The warrants are redeemable by the company at any time commencing Oct. 14, 1993, under certain circumstances.
 Alamar Biosciences Inc. is a research and development company that develops, manufactures and markets in vitro (outside the body) diagnostic testing products to identify the type of bacteria and antibiotic dosage level effective in treating bacterial infections, as well as alamarBlue(TM) a nontoxic indicator dye for use in diagnostic testing of pharmaceuticals, cosmetics, household cleaners and personal hygiene products.
 Alamar's common stock is traded on NASDAQ under the symbol ALMR.
 For information on Alamar Biosciences Inc. by FAX, dial 1-800-PRO-INFO, extension 141.
 -0- 9/16/93
 /CONTACT: Kenneth D. Miller of Alamar Biosciences, 916-567-3475; or Elizabeth Truax of Financial Relations Board, 415-986-1591, for Alamar/
 (ALMR)


CO: Alamar Biosciences Inc. ST: California IN: MTC SU:

LH -- SF001 -- 2558 09/16/93 09:01 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
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