IVAX Diagnostics Announces Entry into Stock Purchase Agreement to Improve Cash Position

IVAX Diagnostics, Inc. IVD, announced today that it has entered into a stock purchase agreement with ERBA Diagnostics Mannheim GmbH pursuant to which IVAX Diagnostics has agreed to sell and issue to ERBA Diagnostics Mannheim 20,000,000 shares of IVAX Diagnostics' common stock at a purchase price of $0.75 per share for an aggregate purchase price of $15,000,000 and warrants to purchase an additional 20,000,000 shares of IVAX Diagnostics' common stock.