GTC Biotherapeutics (fka GTCB)

[DewDiligence]

PharmAthene, HAQ Complete Merger

[This PR says there is still a 30-day period for someone opposed to the merger to appeal, but that’s a formality. To recap: HAQ, a shell company with cash and an Amex listing, acquired PharmAthene in a reverse merger (#msg-16381515), kept PharmAthene’s name, and changed the stock ticker to PIP. (Should Gladys Knight be the CEO?) PIP has its own iHub message board (#board-10312) but, given the company’s relationship with GTC, items of consequence will also be found right here.]

http://biz.yahoo.com/prnews/070828/nytu050a.html?.v=4

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Delaware Court of Chancery Determines Validity of PharmAthene Merger

Tuesday August 28, 8:30 am ET

ANNAPOLIS, Md., Aug. 28 /PRNewswire-FirstCall/ -- PharmAthene, Inc. (AMEX: PIP ) announced today that, in connection with the previously announced proceedings initiated in Delaware Chancery Court, the Court determined yesterday that the merger between PharmAthene and Healthcare Acquisition Corp. had been validly approved and authorized in full compliance with the Company's charter and Delaware corporate law. As is generally the case with decisions of the Court of Chancery, this decision will be subject to appeal for 30 days in accordance with Delaware law.

About PharmAthene, Inc.

PharmAthene is a biodefense company formed in 2001 to meet the critical needs of the United States by developing biodefense products. PharmAthene is dedicated to the rapid development of important and novel biotherapeutics to address biological pathogens and chemicals that may be used as weapons of bioterror. PharmAthene's lead programs include Valortim(TM) and Protexia®. For more information on PharmAthene, please visit its website at http://www.PharmAthene.com.
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