WATERTOWN, Mass., June 28 /PRNewswire-FirstCall/ -- V.I. Technologies,
Inc. (Nasdaq: VITX) ("Vitex" or "the Company"), a biotechnology company
developing the next generation of anti-infective products, announced today it
has been added to the new Russell Microcap(TM) Index, effective June 24, 2005.
Russell recently posted a preliminary membership list at
http://www.russell.com/US/Indexes.
The Russell Microcap Index is comprised of the smallest 1,000 securities
in the small-cap Russell 2000(R) Index plus the next 1,000 companies below the
index, based on a ranking of all U.S. equities by market capitalization. This
new index offers managers and other investors a comprehensive, unbiased
barometer to compare their performance against the genuine microcap
marketplace of stocks.
Dr. Samuel Ackerman, Vitex's Chairman and Chief Executive Officer
commented, "We are pleased that Vitex has been added to the Russell
Microcap(TM) Index. We hope that the combination of our continuing progress in
the development of PA-457 and other novel HIV drugs, combined with inclusion
in this index, will increase our visibility with investors."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for both passive and active
investment strategies. More than $2.5 trillion in assets currently are
benchmarked to them. Investment managers who oversee these funds purchase
shares of member stocks according to that company's weighting in the
particular index.
Companies slated for the Russell Microcap(TM) were ranked as of May 31 by
total market capitalization and weighted based on free-float adjustment, an
integral aspect of Russell index methodology. Free-float adjustment means
stocks are weighted by their available market capitalization which is
calculated by multiplying the primary closing price by the available shares.
About Vitex
Vitex is developing the next generation of anti-infective products. The
Company is engaged in the discovery and development of small molecule oral
drugs for the treatment of HIV and other major human viral diseases. Vitex's
proprietary discovery technologies and lead therapeutic candidate PA-457 focus
on novel targets in the virus life cycle, including virus fusion and virus
maturation. The Company's separate INACTINE(TM) technology is designed to
inactivate a wide range of viruses, bacteria and parasites in blood products,
and has demonstrated its ability to remove prion proteins. The Company's
clinical development program for INACTINE(TM) has been suspended while the
Company continues to address issues relating to immune responses observed in
certain patients in Phase 3 clinical trials. For more information on Vitex,
please visit our web site at: http://www.vitechnologies.com.
About Russell
Russell, a global leader in multi-manager investment services, provides
investment products and services in more than 39 countries. Russell manages
more than $135 billion in assets and advises clients worldwide representing
$2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual
and is headquartered in Tacoma, Wash., with additional offices in New York,
Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.
Except for the historical information contained herein, the matters
discussed are forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. These
statements involve risks and uncertainties, such as the progress of clinical
development of PA-457 and the timing of results of clinical trials, the
execution of the Company's financing plans, the timely availability of new
products, the Company's ability to execute plans to resume its clinical trial
program for the INACTINE(TM) viral inactivation system for red blood cells,
market acceptance of the Company's products, the impacts of competitive
products and pricing, government regulation of the Company's products, the
Company's ability to complete product development collaborations and other
strategic transactions and other risks and uncertainties set forth in the
Company's filings with the Securities and Exchange Commission. These risks and
uncertainties could cause actual results to differ materially from any
forward-looking statements made herein.
CONTACT:
Samuel K. Ackerman, M.D.
Chairman and CEO
617-926-1551
sackerman@vitechnologies.com
SOURCE V.I. Technologies, Inc.
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Related links:
http://www.vitechnologies.com
CONTACT:
Samuel K. Ackerman, M.D., Chairman and CEO of
V.I. Technologies, Inc., +1-617-926-1551,
sackerman@vitechnologies.com
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