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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) June 28, 1996
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BOSTON LIFE SCIENCES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-6533 87-0277826
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(State or other jurisdiction of (Commission (I.R.S. Employer Identification No.)
incorporation or organization) File No.)
33 Newbury Street, Suite 300
Boston, Massachusetts 02116
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(Address of principal executive offices) Zip Code
Registrant's telephone number, including area code (617) 425-0200
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Item 5. Other Events.
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The Company completed, on June 28, 1996, a private placement of
5,000,000 shares of Common Stock, par value $.01 per share, raising
approximately $5 million in gross proceeds. The net proceeds of the sale are
expected to be used for research and development of certain of the Company's
newest proposed products and programs, including, for example, a recently
discovered transcription factor called C-Maf, as to which the Company has
previously filed a report on Form 8-K. The Company issued two press releases
regarding this closing on July 3, 1996 and July 8, 1996 and both press releases
in their entirety are filed as exhibits to this report and are incorporated
herein by such reference.
Item 7. Exhibits.
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The following Exhibits are filed as part of this Report on Form 8-K:
(c) Exhibits
99.1 Press Release, dated July 3, 1996.
99.2 Press Release, dated July 8, 1996.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
BOSTON LIFE SCIENCES, INC.
Dated: July 9, 1996 By: /s/ S. David Hillson
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President and Chief Executive Officer
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BOSTON LIFE SCIENCES, INC.
CURRENT REPORT ON FORM 8-K
EXHIBIT INDEX
Exhibit No. Page
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99.1 Press Release, dated July 3, 1996 5
99.2 Press Release, dated July 8, 1996 6
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Exhibit 99.1
***FOR IMMEDIATE RELEASE***
BOSTON LIFE SCIENCES RAISES
$5 MILLION IN ADDITIONAL CAPITAL
Boston, MA - July 3, 1996 - Boston Life Sciences, Inc. (Nasdaq: BLSI) announced
that it has completed a private placement of 5,000,000 shares of Common Stock,
raising approximately $5 million in gross proceeds. Such shares have not been
registered under the Securities Act of 1933 and may not be sold in the United
States absent registration under the Act or an exemption from such registration
requirements.
"We are very pleased that the private placement was fully subscribed," stated
David Hillson, president and chief executive officer of BLSI.
BLSI merged in June 1995 with and into Greenwich Pharmaceuticals Incorporated,
which was then renamed "Boston Life Sciences, Inc." BLSI is developing novel
treatments for cancel, autoimmune diseases, and central nervous system
disorders. BLSI's products include, among others, THEREAFECTIN(R) (amiprilose
HCI), a potential treatment for rheumatoid arthritis; Cartilage derived
Inhibitor (CDI), a natural anti-angiogenesis factor for the treatment of solid
tumors; Axogenesis Factor 1 (AF-1), a novel central nervous system growth
factor; Altropane/TM/, a radioimaging agent for the diagnosis of Parkinson's
Disease; and a transcription factor that controls the expression of molecules
associated with autoimmune disease.
For additional information contact:
S. David Hillson
President and CEO
212-832-4373
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Exhibit 99.2
***FOR IMMEDIATE RELEASE***
BOSTON LIFE SCIENCES TO USE NEW EQUITY PROCEEDS FOR RESEARCH AND
DEVELOPMENT OF T-CELL SWITCH APPLICATIONS
Boston, MA - July 8, 1996 - Boston Life Sciences, Inc. (Nasdaq: BLSI) announced
that it expects to use much of the approximately $5 million raised in its
recently completed private placement of common stock to support and pursue
research and development of a newly-discovered T-cell switch factor called
C-MAF, which the Company recently licensed from Harvard University. The majority
of the equity was placed with institutional investors.
"The proceeds from this most recent placement increases the net capital raised
this year to over $27 million, which will permit us to provide significant
sources for this exciting T-cell switch technology without requiring us to limit
our commitment or divert funds away from our other development projects", said
David Hillson, president and chief executive officer of BLSI. "Although C-MAF
is at an early state of development and will require significant time and money
before any product is realized, we are gratified at the reaction to our private
placement and to have received funds to apply to a new and exciting
opportunity."
BLSI is engaged in the research and development of novel treatments for cancer,
autoimmune diseases, and central nervous system disorders. BLSI's products in
clinical trials or in pre-clinical development include Cartilage-derived
Inhibitor (CDI), a natural anti-angiogenesis factor for the treatment of solid
tumors; Axogenesis Factor 1 (AF-1), a novel central nervous system growth
factor; Altropane/(TM)/a radioimaging agent for the diagnosis of Parkinson's
Disease; THEREAFECTIN/(R)/ for the treatment of Rheumatoid Arthritis; and a
different transcription factor that controls the expression of molecules
associated with autoimmune disease.
For additional information contact:
S. David Hillson
President and CEO
212-832-4373
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