Sinovac plans $9.75 million; Calypte Biomedical pockets $8 million

By LLuvia Mares

New York, Jan. 23 - Sinovac Biotech Ltd. said overall business strength is what helped the company raise $9.75 million in a private placement of stock, sold to an accredited investor.

"We decided to go with a private placement because of recent market conditions," said Stephanie Carrington, company investor relations manager.

"We feel that our overall business strength and that our company is currently developing a vaccine for the flu is what makes this company a good investment."

The company will sell 2,500,000 shares at $3.90 per share. No warrants were issued in the transaction.

The company's stock (Amex: SVA) closed at $4.14 on Wednesday, up $0.38 from Tuesday's $3.76 close.

Sinovac is a China-based biopharmaceutical company that specializes in the research, development, manufacturing and commercialization of vaccines.

Calypte Biomedical pockets $8 million

Calypte Biomedical Corp. arranged an $8 million stock purchase facility with Fusion Capital Fund II, LLC.

"We are very pleased to enter into this $8 million funding agreement with Fusion Capital, a respected institutional fund that has been investing in technology and health care companies for over eight years," said Roger I. Gale, company chief executive officer, in a press release.

"The agreement, as a complement to funding potentially available to us from other sources, provides the company with the flexibility to help us grow our rapid HIV diagnostic testing business in large developing markets as well as in the U.S."

Calypte issued 3,490,401 shares to Fusion as a commitment fee.

The facility will allow Calypte to sell its stock over two years after a registration statement for the stock is declared effective.

Each drawdown will have a size of $100,000 to $1 million. The share price will be based on the market price of the stock.

No draws will be allowed on any day that the price of Calypte's stock is below $0.052.

Calypte's stock (OTCBB: CBMC) closed at $0.08 on Wednesday, unchanged from Tuesday.

Based in Portland, Ore., Calypte is a biotechnology company focused on in vitro testing algorithms for HIV, sexually transmitted diseases and other chronic diseases.

Alanco wraps $2.14 million

In the technology sector, Alanco Technologies, Inc. completed a $2.14 million private placement of preferred stock units.

The company sold 1,425,500 units at $1.50 apiece.

Each unit consists of one share of series A convertible preferred stock and a warrant exercisable for one class A common share.

Each preferred share is convertible into 1.2 class A common shares. The warrants will each be exercisable at $1.75 for five years.

Alanco's stock (Nasdaq: ALAN) closed at $1.20 on Wednesday, up $0.10 from Tuesday's $1.10 close.

Alanco is a Scottsdale, Ariz.-based provider of advanced information technology solutions.

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