SAN DIEGO, May 10 /PRNewswire-FirstCall/ -- Nanogen, Inc. (Nasdaq:
NGEN), developer of advanced diagnostic products, announced today that it
has received a commitment for up to $25 million in common stock equity
financing from Azimuth Opportunity Ltd. Subject to the terms and conditions
of a purchase agreement between Nanogen and Azimuth Opportunity, over the
next eighteen months, Nanogen may sell registered shares of its common
stock, at its discretion, to Azimuth Opportunity at a small discount from
The shares of common stock are being offered pursuant to an effective
registration statement filed with the SEC on June 20, 2005 and a related
registration statement filed with the SEC on May 9, 2006 pursuant to Rule
462(b) of the Securities Act of 1933, as amended.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under the
securities laws of any such state.
About Nanogen, Inc.
Nanogen's advanced technologies provide researchers, clinicians and
physicians worldwide with improved methods and tools to predict, diagnose,
and ultimately help treat disease. The company's products include real-time
PCR reagents, the NanoChip(R) electronic microarray platform and a line of
rapid, point-of-care diagnostic tests. Nanogen's ten years of pioneering
research involving nanotechnology holds the promise of miniaturization and
continues to be supported for its potential for diagnostic and biodefense
applications. For additional information please visit Nanogen's website at
Nanogen Forward-Looking Statement
This press release contains forward-looking statements that are subject
to risks and uncertainties that could cause actual results to differ
materially from those set forth in the forward-looking statements,
including whether patents owned or licensed by Nanogen will be developed
into products, whether the patents owned by Nanogen offer any protection
against competitors with competing technologies, whether products under
development can be successfully developed and commercialized, whether
results reported by our customers or partners can be identically
replicated, and other risks and uncertainties discussed in Nanogen's Form
10-K or Form 10-Q most recently filed with the Securities and Exchange
Commission. These forward-looking statements speak only as of the date
hereof. Nanogen disclaims any intent or obligation to update or revise
these forward-looking statements, whether as a result of new information,
future developments or otherwise.
SOURCE Nanogen, Inc.