News for 'VRA' - (Viragen Reports on Plans to Produce Multiferon(TM) at New Swedish Manufacturing Facility)
PLANTATION, Fla., Jul 22, 2004 /PRNewswire-FirstCall via COMTEX/ -- Viragen (Amex: VRA) (OTC Bulletin Board: VGNI) today confirmed that its Swedish manufacturing facility in Ersboda is on schedule to commence with the production of Multiferon(TM) in September. The Company has been upgrading and expanding its production capabilities as a result of a more aggressive business direction for its natural human alpha interferon drug. The Company previously reported that it expects to report data later this year from studies evaluating Multiferon for the treatment of malignant melanoma.
"The combined manufacturing capabilities of our existing facility in Umea with our new facility in Ersboda will provide us with the compliance and capacity necessary to focus on our goal to make Multiferon the world's most prescribed natural human alpha interferon," stated Viragen's CEO Mr. Charles A. Rice. Construction of the Ersboda facility was completed earlier this year and is currently undergoing validation required by the Swedish regulatory authorities.
Mr. Rice added, "I plan to personally observe the resumption of production activities in Sweden in September. With our current inventory of frozen Multiferon, which has a longer expiry date than finished product, we are well positioned to support our ongoing business as well as pending new activities."
About Viragen, Inc.:
Viragen is a biotechnology company specializing in the research, development and commercialization of natural and recombinant protein-based drugs designed to treat a broad range of viral and malignant diseases. These protein-based drugs include natural human alpha interferon, monoclonal antibodies and a peptide drug. Viragen's strategy also includes the development of Avian Transgenic Technology as a biomanufacturing platform for the large-scale, cost-effective production of therapeutic proteins.
Viragen is publicly traded on the American Stock Exchange (VRA). Viragen's majority owned subsidiary, Viragen International, Inc., is publicly traded on the Over-The-Counter Bulletin Board (VGNI). Viragen's key partners and licensors include: Roslin Institute, Memorial Sloan-Kettering Cancer Center, Cancer Research UK, University of Nottingham (U.K.), University of Miami, America's Blood Centers and the German Red Cross.
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