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Business Wire - April 29, 2003
Today, the Magic Johnson Foundation, Inc. (http://www.magicjohnson.org) and Calypte Biomedical Corporation, in a joint effort, announced that Earvin "Magic" Johnson will join Calypte's Board of Directors, and that he will also play an active role in promoting global awareness of Calypte's FDA-approved HIV-1 antibody tests for use with urine samples.
Earvin "Magic" Johnson stated: "At the Magic Johnson Foundation our focus is on supporting community-based organizations and developing programs that serve the health, educational and social needs of those residing in inner-city communities. In addition, over the past twelve years, the Foundation has made a strong commitment to raise awareness about several health and social concerns that threaten under-served communities.
"My decision to join the board of Calypte represents a continuation of this commitment. When I first heard of a test for the AIDS virus that uses urine samples, I was amazed and wondered why more people didn't know about it. I believe that the fear of a blood test is one of the biggest reasons why more people don't get tested. Now, with Calypte's urine test, there are no more excuses," Johnson added.
Calypte's screening EIA and supplemental Western Blot tests are the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, Calypte's testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test.
"We cannot envision a more ideal individual to help create awareness on a global basis about urine-based AIDS screening than Earvin `Magic' Johnson," stated Nancy Katz, Calypte's President and Chief Executive Officer. "We are deeply honored to have him as a member of our board and believe that his involvement can increase HIV testing worldwide and decrease the spread of this disease."
Tony Cataldo, Calypte's Executive Chairman, added: "`Magic' Johnson's decision to join our board also represents a very positive development for our company and its shareholders. He is an extraordinarily successful business leader, and we intend to draw upon his experience and expertise from a strategic standpoint as we go forward."
Calypte will host a conference call today at 8:00 a.m. Pacific to discuss today's announcement, as well as the company's first quarter results, which were disseminated on April 24, 2003. Investors in the U.S. and Canada interested in participating in the conference call may dial 800/257-1836 and reference the Calypte Biomedical call. International investors may dial 212/329-1451. A live webcast of the conference call will be available on the investors section of the company's website at www.calypte.com. The webcast will be available until May 29, 2003. A replay will be available through May 5, 2003, by calling 800/405-2236. International callers should dial 303/590-3000 for the replay. The replay confirmation code is 536115.
The Magic Johnson Foundation, Inc.
The Magic Johnson Foundation (http://www.magicjohnson.org) is a non-profit organization that focuses on improving and addressing the health, educational and social needs of those residing in the inner city. In addition, the Foundation has made a strong commitment to raise awareness about several health and social concerns that threaten under-served communities. Founded in 1991 by basketball legend Earvin "Magic" Johnson, MJF has raised more than $20 million for charity.
About Calypte Biomedical
Calypte Biomedical Corporation, headquartered in Alameda, California, is a public healthcare company dedicated to the development and commercialization of urine-based diagnostic products and services for Human Immunodeficiency Virus Type 1 (HIV-1), sexually transmitted diseases and other infectious diseases. Calypte's tests include the screening EIA and supplemental Western Blot tests, the only two FDA-approved HIV-1 antibody tests that can be used on urine samples. When compared with existing blood-based tests, our testing algorithms are non-invasive, easier to use, less expensive and have significantly less risk than blood-based testing, and they have 99.7% sensitivity in subjects previously identified as HIV-1 infected and 100% specificity in subjects at low risk when combined with the urine-based Western Blot supplemental test. The company believes that accurate, non-invasive urine-based testing methods for HIV and other infectious diseases may make important contributions to public health by helping to foster an environment in which testing may be done safely, economically, and painlessly. Calypte markets its products in countries worldwide through international distributors and strategic partners.
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, our ability to obtain additional financing and access funds from our existing financing arrangements that will allow us to continue our current and future operations and whether demand for our product and testing service 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-K for the year ended December 31, 2002, and its subsequent filings with the SEC.
CONTACT: Calypte Biomedical Corporation
Nancy Katz, 510/749-5100
nkatz@calypte.com
or
Magic Johnson Foundation, Inc.
Tammy Warren, 310/247-2033, tammyw@magicjent.com
or
Sitrick And Company
Tammy Taylor, 310/788-2850 (Media), tammy_taylor@sitrick.com
SOURCE: Calypte Biomedical Corporation
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