Proteo, Inc.: Placement of Preferred Stock Series A - US$ 3.6 million finance for clinical trials
June 11 2008 - 3:30AM
Business Wire
Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr: WKN: 925981)
announced today the placement of preferred stock. Proteo announced
today the placement of 600,000 shares of Preferred Stock Series A
of Proteo Inc.'s authorized capital to an institutional investor
FID Esprit AG in Switzerland. The US$3.6 million proceeds of this
transaction will enable the German subsidiary to advance the
progress of its clinical development program. About Proteo The
company researches, develops and markets compounds for biological
and medical research as well as for use as pharmaceuticals. PROTEO
holds the production and utilization rights for recombinant human
Elafin. PROTEO intends to out-license selected indications and to
establish international strategic alliances in order to open up new
fields of application and for marketing (www.proteo.us).
Forward-Looking Statements Certain statements in this news release
may contain forward-looking information within the meaning of Rule
175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of
fact included in this release, including, without limitation,
statements regarding potential future plans and objectives of the
company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Technical complications that may arise could prevent the prompt
implementation of any strategically significant plan(s) outlined
above. The company cautions that these forward looking statements
and risks and uncertainties involved are further qualified by other
factors including, but not limited to those set forth in the
company's Form 10-KSB filing and other filings with the United
States Securities and Exchange Commission. The company undertakes
no obligation to publicly update or revise any statements in this
release, whether as a result of new information, future events or
otherwise. Further information: www.proteo.us Contact:
info@proteo.us Proteo, Inc. (OTCBB: PTEO; Frankfurter Freiverkehr:
WKN: 925981) announced today the placement of preferred stock.
Proteo announced today the placement of 600,000 shares of Preferred
Stock Series A of Proteo Inc.'s authorized capital to an
institutional investor FID Esprit AG in Switzerland. The US$3.6
million proceeds of this transaction will enable the German
subsidiary to advance the progress of its clinical development
program. About Proteo The company researches, develops and markets
compounds for biological and medical research as well as for use as
pharmaceuticals. PROTEO holds the production and utilization rights
for recombinant human Elafin. PROTEO intends to out-license
selected indications and to establish international strategic
alliances in order to open up new fields of application and for
marketing (www.proteo.us). Forward-Looking Statements Certain
statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act
of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934,
and are subject to the safe harbor created by those rules. All
statements, other than statements of fact included in this release,
including, without limitation, statements regarding potential
future plans and objectives of the company, are forward-looking
statements that involve risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements. Technical complications that may
arise could prevent the prompt implementation of any strategically
significant plan(s) outlined above. The company cautions that these
forward looking statements and risks and uncertainties involved are
further qualified by other factors including, but not limited to
those set forth in the company's Form 10-KSB filing and other
filings with the United States Securities and Exchange Commission.
The company undertakes no obligation to publicly update or revise
any statements in this release, whether as a result of new
information, future events or otherwise. Further information:
www.proteo.us Contact: info@proteo.us
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