EDMONTON, Alberta, June 17 /PRNewswire-FirstCall/ --
AltaRex Corp. (TSX: AXO, OTC: ALXFF) ("AltaRex" or the "Company") announced
today that the lawsuit filed by ICN Pharmaceuticals Inc. of Costa Mesa
California has been resolved to the mutual satisfaction of all parties. "I am
delighted to see this matter behind us and now hope to move the Company
forward," said Dr. Antoine Noujaim, President and CEO of AltaRex.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO )
AltaRex Corp. is focused on the research, development and
commercialization of foreign antibodies that modulate the immune system for
the treatment of certain cancers and other diseases where there exists an
unmet medical need. Additional information about AltaRex Corp. can be found on
its website at http://www.altarex.com.
This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially from
the statements made. For this purpose, any statements that are contained
herein that are not statements of historical fact may be deemed to be forward-
looking statements. Without limiting the foregoing, the words "believes,"
"anticipates," "plans," "intends," "expects" and similar expressions are
intended to identify forward-looking statements. Such risks and uncertainties
include, but are not limited to the Company's need for capital; the risk that
the Company can not raise funds on a timely basis on satisfactory terms or at
all; the need to obtain and maintain corporate alliances, such as the alliance
with United Therapeutics Corporation, and the risk that the Company cannot
establish corporate alliances on a timely basis, on satisfactory terms, or at
all; changing market conditions; uncertainties regarding the timely and
successful completion of clinical trials and patient enrollment rates,
uncertainty of pre-clinical, retrospective, early and interim clinical trial
results, which may not be indicative of results that will be obtained in
ongoing or future clinical trials; whether the Company and/or its
collaborators will file for regulatory approval on a timely basis;
uncertainties as to when, if at all, the FDA and other similar regulatory
agencies will accept or approve regulatory filings for the Company's products;
the need to establish and scale-up manufacturing processes, uncertainty as to
the timely development and market acceptance of the Company's products; the
risk that the claims allowed under any issued patent owned or licensed by the
Company will not be sufficiently broad to protect the Company's technology,
that any patents issued to the Company will not be sustained if challenged in
court proceedings or otherwise or that third parties will be able to develop
products or processes that do not infringe valid patents owned or licensed by
the Company, and other risks detailed from time-to-time in the Company's
filings with the United States Securities and Exchange Commission and Canadian
securities authorities. The Company does not assume any obligation to update
any forward-looking statement.
THE TORONTO STOCK EXCHANGE HAS NOT APPROVED OR DISAPPROVED OF THE
INFORMATION CONTAINED HEREIN
Contact:
Rob Salmon
Chief Financial Officer
(780) 989-6708
rsalmon@altarex.com
SOURCE AltaRex Corp.
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Related links:
http://www.altarex.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000831/ALTREXLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/128163.html
CONTACT:
Rob Salmon, Chief Financial Officer of
AltaRex, +1-780-989-6708, rsalmon@altarex.com
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