PORTLAND, Ore., Oct. 13, 2008 (GLOBE NEWSWIRE) -- Znomics, Inc. (OTCBB:ZNOM), a company seeking to discover new drugs using an improved discovery process combining advanced zebrafish technologies and medicinal chemistry, today announced that it has agreed to sell, and certain officers and directors of the company agreed to purchase, the number of shares equal to the aggregate offering price of $50,000 divided by the last sale price of the company's common stock on October 16, 2008.
The offer and sale of common stock in this transaction is being made in reliance upon exemptions from registration pursuant to Rule 506 of Regulation D under the Securities Act of 1933, as amended (the "Act"). The offer and sale of the shares is not being registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.