06 April 2004 23:22
Calypte Appoints New Board Member
ALAMEDA, Calif., April 6 /PRNewswire-FirstCall/ -- Calypte Biomedical Corporation (BULLETIN BOARD: CYPT) a company
engaged in developing rapid tests for HIV diagnosis and the developer and marketer of the only two FDA- approved HIV-1
antibody tests that can be used on urine samples, today announced that its Board of Directors has appointed Maxim A.
Soulimov as a member of the Company's Board of Directors.
Maxim A. Soulimov was appointed to the Company's Board on April 2, 2004 pursuant to an August 2003 agreement
between the Company and Marr Technologies BV ("MTBV") in which MTBV purchased $2.5 million of the
Company's common stock and the Company agreed to grant MTBV the right to appoint two mutually- agreeable
representatives to the Board. MTBV is currently the Company's largest stockholder, holding in excess of 28% of the
Company's outstanding common stock. Since November 2002, Mr. Soulimov has served as Director of Legal Affairs of
Global Corporate Ventures Limited ("GCVL") of London, a company providing consultancy services to a variety of
private investors including MTBV and its affiliates. From April 2000 through October 2002, Mr. Soulimov served as
in-house legal counsel for Lukoil Europe Limited and Lukoil Europe Holdings Limited, private companies involved in the
management of all Lukoil downstream companies outside the Russian Federation. From September 1997 to April 2000, Mr.
Soulimov served as Trainee and then as Assistant Solicitor in the London firm of Norton Rose Solicitors. Mr. Soulimov
holds a Degree in Modern Languages from Tver State University in Russia and an LLB Law degree from University of
Hertfordshire in the United Kingdom.
Dr. J. Richard George, President and CEO of Calypte stated, "We are pleased to welcome Mr. Soulimov to our Board
and look forward to his knowledge and guidance as we expand our marketing into Russia, where his business experience
could prove to be a valuable asset."
Tony Cataldo, Executive Chairman of Calypte stated, "As Calypte focuses on the emerging HIV epidemic countries
including China and Russia, Mr. Soulimov's experience in cross border mergers and acquisitions, restructuring,
corporate finance and governance in Western and Eastern Europe may play a very vital role in Calypte's growth in
those areas of the world."
About Calypte Biomedical:
Calypte Biomedical Corporation, headquartered in Alameda, California, is a public healthcare company dedicated to the
development and commercialization of in vitro diagnostic tests, primarily for the detection of antibodies to Human
Immunodeficiency Virus (HIV), and other sexually transmitted and infectious diseases. Calypte's currently marketed
laboratory-based tests include an enzyme immunoassay (EIA) HIV-1 antibody screening test and an HIV-1 antibody western
blot supplemental test, the only two FDA-approved HIV-1 antibody tests for use on urine samples, as well as an
FDA-approved serum HIV- 1 antibody western blot supplemental test. Calypte is actively engaged in developing new test
products for the rapid detection of HIV and other infectious diseases. Calypte believes that there is a significant need
for rapid detection of such diseases globally to control their proliferation, particularly in lesser-developed
countries, which lack the medical infrastructure to support laboratory-based testing. Calypte believes that testing for
HIV and other infectious diseases may make important contributions to public health.
Statements in this press release that are not historical facts are forward-looking statements within the meaning of
the Securities Act of 1933, as amended. Those statements include statements regarding the intent, belief or current
expectations of the Company and its management. Such statements reflect management's current views, are based on
certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially
from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of
factors, including, but not limited to, the Company's ability to obtain additional financing and access funds from
its existing financing arrangements that will allow it to continue its current and future operations and whether demand
for its test products in domestic and international markets will continue to expand. The Company undertakes no
obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the
date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements
or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed
in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"),
including its annual report on Form 10-KSB for the year ended December 31, 2003 and its subsequent filings with the SEC.
Investor Relations Contact: Tim Clemensen 212-843-9337 email: tclemensen@rubensteinir.com Calypte Biomedical
Corporation
CONTACT: Tim Clemensen, Calypte Biomedical Corporation, +1-212-843-9337, tclemensen@rubensteinir.com
Web site: http://www.calypte.com/
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