Alamar Biosciences Inc., of Sacramento, Calif., said Wednesday that itis proposing the sale of units to raise $2.25 million.Each unit would consist of shares of the company's Series Acumulative convertible preferred stock and common stock purchasewarrants. Commonwealth Associated Inc., of New York, isunderwriting the private placement.Alamar also said it reached an agreement in principle with SchererHealthcare Inc., of Atlanta, in which Scherer would provide up to $1million in funding. Under the agreement, Scherer would invest$250,000 in Alamar units, and the rest would be available to Alamar.Alamar now has about 5 million shares outstanding, and reported$761,000 in cash on June 30.Alamar develops and markets in vitro testing products for infectiousdiseases, and a product, alamarBlue, which is an indicator dye used fordetermining cell viability in research and biotechnology applications."We had a significant delay in getting FDA clearance for our keyproducts for bacterial identification and susceptibility testing," KennethMiller, Alamar's CEO, told BioWorld. "We received major clearanceat the end of May." He said most of the proceeds will go towardgearing up for marketing the testing products in the U.S. andelsewhere. _ Jim Shrine
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