FOR IMMEDIATE RELEASE
SYMBOLLON RAISES $1.8 MILLION THROUGH WARRANT EXERCISE
Contacts:
Symbollon: Paul C. Desjourdy Investors: Tim Curtiss
President/COO Wall Street Investor Relations
(508) 620-7676, x12 (877) 925-5784
FRAMINGHAM, MASSACHUSETTS, September 11, 2000 -- Symbollon Corporation
(NASDAQ:SYMBA) today announced that it has received $1.8 million from the
exercise of outstanding warrants.
"We are pleased to report that 586,910 warrants were voluntarily exercised by
their holders at $3.00 per share," stated Paul C. Desjourdy, President and COO
of Symbollon. "With this new capital, the Company has cash on hand of
approximately $4 million. These funds will allow us confidently to pursue our
goal of commercializing IoGen(TM), an iodine-based drug for the treatment of
fibrocystic breast disease."
"As we await receipt of the final Phase II clinical data for IoGen, we are
pursuing intensified discussions with potential corporate partners regarding a
possible collaboration to commercialize IoGen," added Dr. Jack H. Kessler,
Chairman and CEO of Symbollon. "In the coming months, we plan to meet with the
Food and Drug Administration to review the final data and the design of the
pivotal trials for IoGen."
Symbollon Corporation is engaged in development of proprietary iodine-based
compounds for the prevention and treatment of various human diseases. The
Company's development efforts are currently focused on fibrocystic breast
disease, ophthalmology and dermatology.
This news release contains statements by the Company that involve risks and
uncertainties and may constitute forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements reflect
management's current views and are based on certain assumptions. Actual results
could differ materially from those currently anticipated as a result of a number
of factors, including, but not limited to, such factors as may be disclosed from
time-to-time in the Company's reports as filed with the Securities and Exchange
Commission. Given these uncertainties, current or prospective investors are
cautioned not to place undue reliance on any such forward-looking statements.
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