LifeCell Corp. announced that 97.6 percent of its outstanding warrants were redeemed byshareholders, generating approximately $3.4 million in new capital for the Houstoncompany.

The company (NASDAQ:LIFC) redeemed the remaining warrants on Dec. 31. “We plan touse the proceeds ... to fund the sales and marketing activities related to the commercialintroduction later this year of our processed dermal skin replacement tissue AlloDerm ...and also to accelerate our product development programs in tissue replacements andtransfusable blood cells,“ said Paul Frison, LifeCell's president and chief executiveofficer.

AlloDerm is currently being evaluated as a treatment for full-thickness burns at sixburn centers nationwide.