Matritech Announces Deferral of Convertible Debt Principal and Interest Payments
16 Avril 2007 - 2:00PM
Business Wire
Matritech (Amex: MZT) today announced that it agreed with the
holders of more than 90% of the outstanding principal value of its
Series A 15% Secured Convertible Promissory Notes to defer these
holders� receipt of principal and interest payments scheduled for
April 13, 2007 to May 13, 2007. Matritech expects to make the
payments on May 13, 2007 in shares of its common stock, consistent
with its past practice. About Matritech Matritech, a leading
marketer and developer of protein-based diagnostic products for the
early detection of cancer, is using its patented proteomics
technology to develop diagnostics for the detection of a variety of
cancers. The Company�s first two products, the NMP22� Test Kit and
NMP22� BladderChek� Test, have been FDA approved for the monitoring
and diagnosis of bladder cancer. The NMP22� BladderChek� Test is
based on Matritech�s proprietary nuclear matrix protein (NMP)
technology, which correlates levels of NMPs in body fluids to the
presence of cancer. Beginning with a patent portfolio licensed
exclusively from the Massachusetts Institute of Technology (MIT),
Matritech�s patent portfolio has grown to 14 other U.S. patents. In
addition to the NMP22 protein marker utilized in the NMP22� Test
Kit and NMP22� BladderChek� Test, the Company has discovered other
proteins associated with cervical, breast, prostate, and colon
cancer. The Company�s goal is to utilize protein markers to
develop, through its own research staff and through strategic
alliances, clinical applications to detect cancer. More information
about Matritech is available at www.matritech.com. Statement under
the Private Securities Litigation Reform Act Any forward-looking
statements in this press release, including those related to the
Company�s expectations regarding the form of payment of
installments on its outstanding debt and its future compliance with
applicable stock payment conditions, are subject to a number of
risks and uncertainties, many of which are beyond the Company�s
control. Please refer to the risk factors detailed in the Company�s
periodic reports and registration statements as filed with the
Securities and Exchange Commission. These forward-looking
statements are neither promises nor guarantees. There can be no
assurance that the Company will be able to make future debt
payments in shares of its common stock. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date hereof. Matritech undertakes no
responsibility to revise or update any such forward-looking
information.
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