Viropro: Precisions on the Alpha Acquisition
31 Marzo 2011 - 11:10AM
Business Wire
VIROPRO (Pink Sheets: VPRO) On February 22nd,
Viropro announced it had acquired Alpha Biologics Sdn of Penang
Malaysia. In that Press Release, Viropro stated that the value of
the plant would be reappraised to better reflect its true value;
some investors were led to believe that Viropro would have to
increase the number of shares issued as payment. Viropro therefore
clarifies and confirms that its acquisition cost for the plant will
remain at 525,000,000 shares whether or not value of the plan is
reappraised.
Viropro also reemphasizes that it is currently processing all
data pertaining to financial statements so as to disclose them as
soon as possible and will from there undertake all necessary
measures to regain full disclosure level. Rajiv Datar, CEO of
Viropro, comments: “Income from our subsidiary in San Diego
(Biologics Process Development Inc.) is increasing on a quarterly
basis and it will show profits in 2011 so we are looking forward to
producing explicit and detailed financials as soon as
possible.”
Operations at the different units is going according to plan. Dr
Datar further comments: “We’re quite pleased with the performance
of our units. In Cambridge, UK for example, we recently reached an
agreement with King’s College. This is a highly prestigious
institution and we are extremely pleased to be serving them.”
Finally, Viropro announces it is deferring its shareholders
meeting to June 17. Company requires more time to prepare the
meeting considering the extent of the Agenda.
About Viropro, Inc.:
Viropro, Inc. conducts operations through its subsidiaries
Viropro International Inc., and Biologics Process Development, Inc.
and specializes in the transfer of its technologies for industrial
production of biopharmaceutical therapeutic proteins for the
treatment of various diseases including cancer, diabetes, hepatitis
and multiple sclerosis. The Company’s principal objective is to
provide its high-yield manufacturing process technology to
biopharmaceutical companies in global markets with unmet medical
and/or market needs. (www.viropro.com)
Viropro Inc. Safe Harbor Statement
Except for any historic information contained herein, the
matters discussed in this press release contain forward-looking
statements that involve risks and uncertainties, which are subject
to section 27A of the Securities Act of 1933 and section 21E of the
Exchange Act of 1934, and are subject to safe harbor created by
these sections. Any statements that express or involve discussions
with respect to predictions, beliefs, plans, projections,
objectives, goals, assumptions of future events or performances are
not statements of historical fact and may be "forward-looking
statements". Forward-looking statements in this release may be
identified through the use of such words as "expects",
"anticipates", "estimates", "believes", or statements indicating
certain actions "may", "could", or "might" occur. Actual results,
performance or achievements could differ materially from those
anticipated in such forward-looking statements, which involve
numerous risks and uncertainties, including the Company's ability
to market its products and services in a competitive environment as
well as other factors.
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