Viropro: Precisions on the Alpha Acquisition
13:10:00 03/31/2011
IRVINE, Calif., Mar 31, 2011 (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.
SOURCE: Viropro, Inc.
Viropro: Serge Beausoleil, 514-779-7336 sbeausoleil@viropro.com
Copyright Business Wire 2011
