Calypte Opens Dubai Office
Wednesday September 5, 9:48 am ET
New Location to Drive Growth Throughout Middle East and Northern Africa
LAKE OSWEGO, Ore.--(BUSINESS WIRE)--Calypte Biomedical Corporation (OTCBB: CBMC - News), medical diagnostic tests manufacturer for the rapid detection of antibodies to the human immunodeficiency virus (HIV), announced today that it has established a branch office in Dubai, United Arab Emirates (UAE) as the Company's regional focal point for its Middle East and Northern Africa ("MENA") operations.
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The Dubai Office intends to work with Governmental and Non-Government Organizations ("NGO's") having headquarters or representation in the region in their efforts to control the AIDS epidemic by promoting the use of Calypte's products, especially its non-invasive Aware® HIV-1/2 OMT (oral fluid) rapid test.
Ms. Manahel Thabet, newly appointed President of the Dubai Office, completed her post graduate studies in Commerce in 1996 prior to joining the United Nations. She spent eight years with several NGO's in the MENA region before serving as an Investment Advisor for the largest bank in the UAE for two years. More recently she has run a fund management company.
Mr. Ravi Pandit has been appointed Vice President and will support Ms. Thabet efforts. He has been the Managing Partner of a general trading company in Dubai for the past two years. Prior to that, Mr. Pandit worked for 15 years with the New Medical Centre Group of Companies, where his last assignment was to head the global money transfer brand of the Group Company, UAEXCHANGE. Prior to that, he worked for 10 years in management positions with India's largest Bank, State Bank of India, in both India and the UAE.
"We believe Dubai is an excellent location from which to expand our Middle Eastern and North African operations," said Roger I. Gale, Calypte's Chairman and Chief Executive Officer. "Manahel and Ravi each have extensive background in and knowledge of this region and their many contacts make them a strong addition to the Calypte team."
Ms. Thabet noted, "In its continuing endeavor to establish a global presence, I am pleased to join Calypte to launch its newest branch office in Dubai. Located at the cross roads between East and West, in my opinion Dubai hails as one of the best strategic locations in the world today, being situated as a time zone bridge between both the Far East and Europe and the Commonwealth of Independent States (C.I.S.) and Africa. It is a gateway to the more than 1.5 billion people in the region. In my opinion, the expanding needs of Calypte can be effectively met by the office in Dubai with its unrivaled accessibility to so much of the world."
Ms. Thabet continued, "My objective is to use this office to enable Calypte to leverage its sales and marketing efforts in this region where many of the governments have recently awakened to the stark reality that the HIV/AIDS epidemic is spreading in their countries. Governments and NGO's in these regions are allocating substantial funds to control the HIV/AIDS."
About Calypte Biomedical:
Calypte Biomedical Corporation (www.calypte.com) is a U.S.-based healthcare company focused on the development and commercialization of rapid testing products for sexually transmitted diseases such as the AwareTM HIV-1/2 OMT test that are suitable for use at the point of care and at home. Calypte believes there is a significant need for rapid detection of such diseases globally to control their proliferation, particularly in developing countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for HIV and other sexually transmitted infectious diseases may make important contributions to public health, and could increase the likelihood of treating those with undetected HIV and other sexually transmitted diseases.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current expectations of the Company and its management. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, the Company's ability to obtain additional financing, if and as needed, and access funds from its existing financing arrangements that will allow it to continue its current and future operations and whether demand for its test products in domestic and international markets will generate sufficient revenues to achieve positive cash flow and profitability. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-KSB for the year ended December 31, 2006 and its subsequent filings with the SEC.
Contact:
Calypte Biomedical Corporation
Richard D. Brounstein, Executive Vice President
971-204-0282
rbrounstein@calypte.com
or
Investor Relations:
CEOcast, Inc.
Andrew Hellman, 212-732-4300
adhellman@ceocast.com
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