Marr Technologies Increases Investment in Calypte Biomedical Corporation
THURSDAY, OCTOBER 02, 2003 12:55 PM
- PR Newswire
ALAMEDA, Calif., Oct 2, 2003 /PRNewswire-FirstCall via COMTEX/ -- Calypte Biomedical Corporation (CYPT) , the developer and marketer of the only two FDA approved HIV-1 antibody tests for use with urine samples, announced today that Marr Technologies Limited had increased its ownership in Calypte Biomedical through the open-market purchase of approximately 5.2 million shares of the company's common stock. Marr had previously invested $12.5 million in the company's stock through a private placement of securities.
"We are confident in Calypte's HIV screening technology," said Marat Safin, President of Marr Technologies Limited. "We believe it will penetrate the global markets. Since the company is already well financed, we have acquired an additional 5.2 million shares in the company in the open market."
The recent purchases increase Marr's ownership position to approximately 38 million shares.
About Marr Technologies Limited
Marr Technologies Limited is a member of the Marr Group of companies (the "Group"). The Group is a private group controlled by the Safin family and administered from London. Marat Safin, a London School of Economics graduate, is the President of the Group. The Group has a large and diverse number of investments and projects globally, principally in Europe, the Far East, the Middle East and the CIS, with substantial investments in telecoms and technology projects. The Group has made significant progress in placing products and services of its group companies in the Chinese market and believes that its experience in China will greatly benefit the joint venture with Calypte.
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