IsoTis to make Nasdaq public offer

Further to the offer memoranda of December 2006, in which IsoTis Inc announced its exchange offer for the outstanding shares of Swiss parent IsoTis SA and indicated that it may issue additional shares in a capital raising transaction following the exchange offer, the US unit says that it intends to raise between $30.0-$40.0 million by offering newly-issued Nasdaq listed shares of its common stock to the public in an underwritten public offering.

IsoTis Inc intends to offer the shares after it becomes a Nasdaq-listed company and after it consummates the exchange offer for the outstanding shares of IsoTis SA. If the conditions to the exchange offer are met, IsoTis Inc expects to be listed on the Nasdaq on January 26 and to consummate the exchange offer in February.

Assuming the offering proceeds, the firm intends to use the net proceeds to support sales, marketing and general administrative activities; clinical research and product development activities and to fund working capital and other general corporate purposes.