Important Update to the Business Plan |
Montreal, Tuesday, September 22, 2009 – Viropro Inc. (VPRO) wishes to update its shareholders about the Letter of Intent it had signed on December 30, 2008.
As per this Letter, Intas Pharmaceuticals of Ahmedabad, India through its wholly owned subsidiary, Biologics Process Development Inc. (San Diego, CA), was to invest directly 1,180,000 USD in Viropro Inc. As of today, 930,000 USD has been paid to Viropro and the Company expects last payment to be made in the next few days.
Serge Beausoleil, President, comments: “Viropro has come a long way since we took over management of the Company. January 2008 Meeting of the Shareholders was held to decide whether or not it should continue operations; since then, we signed the above agreement with Intas, secured a strong working capital and we are now working on a new business model for the future of the Company.”
Indeed, with work on the Anti-CD20 project completed, Viropro is setting forth a Contract Research and Manufacturing Services (“CRAMS”) offering. The CRAMS offering is targeted towards Biopharmaceuticals companies that wish to outsource in part or in whole, the research, development, clinical- and/or commercial production of new biopharmaceutical products. In order to meet this offering, acquisition of vertically integrated enterprises is currently being investigated in the USA and Europe. In fact, discussions with targeted entities are to be initiated very shortly.
The business model also calls for Viropro to acquire a GMP unit, which there again has been identified and towards which acquisition negotiations have already begun.
Copies of the updated business plan are available on the Company’s website.
About Viropro, Inc.:
Viropro Inc. conducts operations through its subsidiary Viropro International Inc., specializes in the transfer of its technologies for industrial production of biogeneric therapeutic proteins for the treatment of various diseases including cancer, diabetes, hepatitis or multiple sclerosis. The company’s principal objective is to provide manufacturing process technology transfers to pharmaceutical companies in emerging markets with unmet medical needs such as in South America, Asia and Africa. (www.viropro.com)
About Biological Process Development, Inc.:
BPD, located in Poway, CA, has been providing contract laboratory services to the biotechnology and biopharmaceutical industries for more than decade. The range of services includes molecular biology, cell culture, fermentation, protein purification, frozen storage, contract manufacturing, process scale-up and consulting services. BPD has an impressive list of clients that range from university laboratories to well-known biotechnology and biopharmaceutical companies. (www.biologicspd.com)
About Intas Biopharmaceuticals Limited:
Intas Biopharmaceuticals Limited is a fully integrated biopharmaceutical company based out of Ahmedabad, Gujarat, India. Since launch of biotechnology operations in May 2000, Research & Development (R&D) and Manufacturing of Biopharmaceutical products with a special focus on Oncology (Cancer) are the major thrust areas for the company. Intas Biopharmaceuticals is India's first and only biopharmaceutical company to receive European Union -Good Manufacturing Practice (EU-GMP) certification for its manufacturing facility. (www.intasbiopharma.co.in)
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.
For more information on Viropro Inc., please visit our website onwww.viropro.com
Viropro:
(514) 465 2722
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