Thursday, 7 August 2008

Med BioGene Raises New Equity While Others Cannot - Speaks To Its Potential


MED BIOGENE INC. (TSX:V-MBI)

Basic shares: 39.8 million

Fully diluted: 51.9 million

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MBI’s August 7th announcement on the completion of its first tranche of financing should put investors’ minds at ease if they had any concerns about the company having sufficient R & D and operational capital for the future. Today’s news means that Med BioGene will have enough money to get through to the commercialization of its LungExpressDX™, which management is expecting to happen by the end of this calendar year or Q1/2009 .

What is also quite impressive is that Med BioGene is successfully raising money during this challenging time in the market, while many other companies are failing to raise any capital at all.

As expressed in the news release, MBI is expecting the completion of the second and final tranche of the offering early next month. So stay tuned.

To view the full release, please click here.