SHREWSBURY, Mass., June 3 /PRNewswire-FirstCall/ -- TranXenoGen, Inc.
("TranXenoGen" or the "Company"), announces that the party with whom it had
agreed to sell its building, as detailed in the proxy statement sent to all
shareholders, has given notice of withdrawal from the transaction. The Board
is seeking clarification on the withdrawal and will seek to obtain a new buyer
as the Company has continued to market the facility. A further announcement
will be made as soon as additional information is available.
The Company's Annual General Meeting will still be held on June 23, 2005,
at 10:00 a.m. EDT, to address the other resolutions.
About TranXenoGen
TranXenoGen, Inc. (LSE: TXN.L) is a publicly traded development stage,
Biotechnology Company, and, as such, investors should be aware that an
investment in the Company involves a substantially high degree of risk. Its
shares are quoted on the Alternative Investment Market of the London Stock
Exchange. The securities of the Company have not been registered under the
Securities Act of 1933 and therefore, may not be offered or sold in the United
States absent registration or an applicable exemption from the registration
requirements under such Act.
Risk Warning Notice:
This press release contains forward-looking statements that can be
identified by terminology such as "expects", "potential", "suggests", "may",
"will" or similar expressions. Such forward-looking statements regarding our
business, which are not historical facts, are "forward-looking statements"
that involve risk and uncertainties, which could cause the Company's actual
results and financial condition to differ materially from those anticipated by
the forward-looking statements. Actual results may differ materially from
statements made as a result of various factors, including, but not limited to
sufficiency of cash to fund the Company's planned operations, risk associated
with inherent uncertainty of product research and development, risk of
protecting proprietary rights and competition. Forward-looking statements
speak only as to the date they are made. The Company does not undertake to
update forward-looking statements to reflect the circumstances or events that
occur after the date the forward-looking statements are made.
ENQUIRIES:
TranXenoGen, Inc. Tel: 001 508 936 4214
Paul DiTullio, President and CEO Email: pditullio@tranxenogen.com
Insinger de Beaufort Tel: 020 7190 7000
Stephen Goschalk
SOURCE TranXenoGen, Inc.
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Related links:
http://www.tranxenogen.com
CONTACT:
Paul DiTullio, President and CEO of
TranXenoGen, Inc., 001 508 936 4214, pditullio@tranxenogen.com,
or Stephen Goschalk of Insinger de Beaufort, 020 7190 7000
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