| [February 14, 2012] |
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ADMA Biologics Completes Merger and Closes $17.5 Million Private Placement
HACKENSACK, N.J. --(Business Wire)--
ADMA Biologics, Inc. ("ADMA"), a clinical stage biotechnology company
focused on the development and commercialization of human plasma and
plasma-derived therapeutics, today announced the completion of a reverse
merger with R&R Acquisition VI, Inc. ("R&R VI"), a public reporting
company. The transaction was completed by the merger of a wholly-owned
subsidiary of R&R VI with ADMA, with ADMA remaining as the surviving
company and as a wholly-owned operating subsidiary of R&R VI. R&R VI was
renamed ADMA Biologics, Inc. following completion of the merger. The
resulting public company will implement the business plan of ADMA.
In addition, in conjunction with the merger, ADMA announced that it
raised approximately $17.5 million through a private placement of
1,828,128 shares of Common Stock to institutional investors for $9.60
per share. Burrill & Company is the lead investor in the private
placement, which also included significant participation from Aisling
Capital and ADMA's founders. Proceeds from the financing will support
ADMA's pivotal Phase III clinical trial for its lead product candidate,
RI-001, in order to gain FDA approval of RI-001 as an intravenous immune
globulin ("IGIV") for the treatment of patients with Primary
Immunodeficiency Disease ("PIDD").
"We are very pleased that Burrill & Company is joining us to lead this
round of financing for ADMA," said Steve Elms, Managing Partner at
Aisling Capital and Chairman of the Board of ADMA Biologics. "It is a
strong sign of support for ADMA's important work developing potentially
lifesaving therapies for immunocompromised patients. They clearly share
our confidence in ADMA's RI-001 and in its upcoming Phase III clinical
trial."
"It's not often that we have an opportunity to invest in a late-stage
asset like ADMA's RI-001 and in a company like ADMA," said Bryant Fong,
ManagingDirector at Burrill & Company. "From both a clinical
development perspective and from a potential patient benefit
perspective, we see a very compelling new product candidate that
addresses an area of clinical unmet need, and we believe the ADMA
management team is well-equipped to bring it to commercial success."
Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw
Capital Group, Inc. (Nasdaq: RODM),
served as advisor for the merger and as exclusive placement agent in
connection with the financing.
RI-001 is a plasma-derived, polyclonal, intravenous immune globulin with
standardized high levels of antibodies against respiratory syncytial
virus ("RSV").
About ADMA Biologics, Inc.
ADMA is a clinical stage biotechnology company which focuses its efforts
on the development and commercialization of human plasma and
plasma-derived therapeutics. ADMA's mission is to develop and
commercialize plasma-derived, human immune globulins targeted at niche
patient populations with unmet medical needs. In addition, ADMA operates
ADMA BioCenters, a wholly-owned subsidiary and FDA-licensed source
plasma collection facility located in Norcross, GA.
ADMA Biologics, Inc. was founded by Dr. Jerrold B. Grossman and Adam S.
Grossman.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward looking statements."
Forward-looking statements include, without limitation, any statement
that may predict, forecast, indicate, or imply future results,
performance or achievements, and may contain the words "estimate,"
"project," "intend," "forecast," "anticipate," "plan," "planning,"
"expect," "believe," "will," "will likely," "should," "could," "would,"
"may" or, in each case, their negative, or words or expressions of
similar meaning. These forward-looking statements include, but are not
limited to, statements concerning the timing, progress and results of
the clinical development, regulatory processes, potential clinical trial
initiations, potential investigational new product applications,
biologics license applications, and commercialization efforts of the
Company's product candidate(s). Forward-looking statements are subject
to many risks and uncertainties that could cause our actual results to
differ materially from any future results expressed or implied by the
forward-looking statements, including, but not limited to, the risks
listed under the heading "Risk Factors" in the Current Report on Form
8-K filed with the Securities and Exchange Commission by R&R Acquisition
VI, Inc. on February 13, 2012. Therefore, current and prospective
security holders are cautioned that there also can be no assurance that
the forward-looking statements included in this press release will prove
to be accurate. In light of the significant uncertainties inherent to
the forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation or warranty
by ADMA or any other person that the objectives and plans of ADMA will
be achieved in any specified time frame, if at all. Except to the extent
required by applicable laws or rules, ADMA does not undertake any
obligation to update any forward looking statements or to announce
revisions to any of the forward-looking statements.

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