Biopure to seek funds through possible private placements, collaborations

By Jennifer Chiou

New York, March 13 - Biopure Corp. said it will be required to seek financing through public or private sales of equity securities, according to a 10-K filing with the Securities and Exchange Commission.

The Cambridge, Mass., company also said it may consider corporate collaborations for sharing development and commercialization costs.

At Jan. 31, the company said it had $15.2 million in cash on hand, which it believes will fund operations through August.

According to the filing, Biopure noted it will cut costs through the reduction of its manufacturing operations, limiting production and sales of Oxyglobin.

The company said during 2006 it will focus on developing Hemopure for potential ischemia and trauma indications, communicating with the FDA, submitting a marketing application in Europe for a proposed orthopedic surgical anemia product and maintaining some manufacturing capability.

Biopure develops, manufactures and markets pharmaceuticals called oxygen therapeutics that are intravenously administered to deliver oxygen to the body's tissues.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.