DynaGen Inc. announced Monday that it has netted close to $4million in two separate private placements, totaling more than1 million shares of common stock. RAS Securities Corp. andThomas James Associates Inc. were the independent agents forthe placements, which grossed about $4.02 million.

DynaGen of Cambridge, Mass., is developing improveddiagnostic tests for tuberculosis (TB), among other diseases. Thecompany reported last week at the American Society ofMicrobiology annual meeting in Atlanta that its one-hourantibody test for diagnosing active TB has passed a clinicalefficacy test on 719 patients with suspected tuberculosis atmedical centers in four countries.

The company (NASDAQ:DYGN) is also developing the NicErasefamily of smoking cessation products.

DynaGen raised $4 million in a secondary offering of 800,000units of common stock and redeemable warrants last October.The units were priced at $5 each, and the warrants areexercisable at $6.50. There are currently 14.2 million sharesoutstanding, fully diluted, according to Jack Barlow, DynaGen'ssenior vice president of corporate development. As of the endof March, the company had $3.2 million in cash or cashequivalents.

DynaGen's stock closed at $4.38 a share on Monday, down 50cents. -- Jennifer Van Brunt

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