Viropro to hold 100% of Biologics Process Development
Montreal, Wednesday, December 16, 2009- Serge Beausoleil, President of Viropro announces that as per the Company’s new business plan, it will acquire from IBPL, its 100% wholly owned subsidiary, Biologics Process Development Inc. of San Diego, California (“BPD”). This is a part of the overall realigning of IBPL’s CRAMS business.
“The purpose is to have Viropro as the public holding owning subsidiaries, such as Viropro International and BPD, as the servicing units of our CRAMS offering,” comments Serge Beausoleil.
This acquisition will be paid entirely in common stock of Viropro. The Company will issue 90,000,000 shares to IBPL as payment upon closing of the transaction, scheduled for the end of December.
As previously reported Viropro is setting forth a Contract Research and Manufacturing Services offer (“CRAMS”). CRAMS consists mostly of outsourced research services from major pharmaceutical and biopharmaceutical companies in line with international regulatory standards such as the USFDA and EMEA. Viropro intends to implement its business model through the merger or acquisition of existing facilities in Europe, North America and India.
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 IBPL (CRAMS Business).:
IBPL 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 re-combinant proteins; as the major thrust areas for the company. IBPLis 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 on www.viropro.com