DGAP-News: Zyomyx Closes Series 2 Preferred Financing Round of $12 Million to Enable Launch of Low-Cost, Rapid Point-of-Care CD4 Test

Zyomyx, Inc. 

30.06.2013 07:00
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Novel Diagnostic Will Expand Access to HIV Treatment

FREMONT, Calif., 2013-06-30 07:00 CEST (GLOBE NEWSWIRE) --
Zyomyx, Inc. announced today that it completed the first closing of its Series
2 Preferred financing totaling US$12 million. The financing was led by Mylan
Inc. (Nasdaq:MYL) at approximately US$6 million and included conversion of
certain existing funding from the Bill & Melinda Gates Foundation. 

Zyomyx concurrently entered an exclusive developing world distribution
agreement with Mylan for its proprietary point-of-care (POC) CD4 T-cell count
test for HIV patients, the first product developed using Zyomyx's novel
platform technology. The test will be available after regulatory approvals. 

'We are extremely pleased that Mylan agreed to lead our Series 2 Preferred
financing, which will be used to fund initial regulatory approvals and
production capacity for our CD4 test,' said Peter Wagner, President and CEO of
Zyomyx. 'The investment underscores the value of both our CD4 test and our
proprietary technology, which enables rapid cell capture and counting for a
wide range of cells, with potential applications for numerous other human
diagnostics and life science markets.' 

The Bill & Melinda Gates Foundation previously awarded Zyomyx grants through a
global initiative for CD4 product development, from which Zyomyx's test emerged
as the initiative's most promising technology for use in developing countries
at that time. The foundation has since provided additional investments directly
to Zyomyx for product development and evaluation trials in Africa. 

According to revised World Health Organization guidelines, close to 26 million
HIV patients globally are receiving or eligible for antiretroviral therapy. A
major barrier to initiating and monitoring treatment among these patients is
the inaccessibility of rapid point-of-care diagnostics that can determine a
patient's CD4 count, a critical measure of immune system strength, in a single
clinical visit. Zyomyx's novel, quantitative and cost-competitive CD4 test was
designed to meet this need. The disposable test cartridge is as easy to read as
a thermometer; is durable and portable; and delivers results less than 10
minutes from sample collection without requiring expensive laboratory machines. 

About Zyomyx, Inc.

Zyomyx, Inc., a privately held diagnostics company based in Fremont,
California, is an innovator in the development and commercialization of
proprietary diagnostic platforms. The Zyomyx product development infrastructure
and suite of proprietary assay and surface technologies are ideally suited for
the development of affordable, disposable point-of-care diagnostic products,
designed to increase access to testing. Zyomyx's first product is an advanced
but simple and inexpensive CD4 T-cell point-of-care test that will be launched
globally and is configured to meet the needs of developing countries. 

For more information: http://www.zyomyx.com.

About Mylan Inc.

Mylan is a global pharmaceutical company committed to setting new standards in
health care. Working together around the world to provide 7 billion people
access to high quality medicine, we innovate to satisfy unmet needs; make
reliability and service excellence a habit; do what's right, not what's easy;
and impact the future through passionate global leadership. We offer a growing
portfolio of approximately 1,100 generic pharmaceuticals and several brand
medications. In addition, we offer a wide range of antiretroviral therapies,
upon which approximately 40% of HIV/AIDS patients in developing countries
depend. We also operate one of the largest active pharmaceutical ingredient
manufacturers and currently market products in approximately 140 countries and
territories. Our workforce of more than 20,000 people is dedicated to improving
the customer experience and increasing pharmaceutical access to consumers
around the world. But don't take our word for it. See for yourself. See inside.
mylan.com 


         CONTACT: Joanna Sickler
         jsickler@zyomyx.com
         +1-510-732-9602
News Source: NASDAQ OMX



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Language:     English
Company:      Zyomyx, Inc.
              
               
              United States
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         US9902270191
WKN:          
 
End of Announcement                             DGAP News-Service
 
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