PLANTATION, Fla., June 29 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) today confirmed the completion of a $20 million financing. The
funds were raised from the sale of convertible promissory notes and common
stock purchase warrants to eight institutional investors, and the proceeds are
intended to be used to progress the research, development and
commercialization of its healthcare products and technologies.
Shortly after completing the financing, Viragen's CEO, Mr. Charles A.
Rice, presented at the Biotechnology & Pharmaceutical Stocks Forum in New York
City on June 23, which was sponsored by Barron's and The Wall Street Journal.
At the conference, Mr. Rice reported that Viragen is involved in certain
partnering negotiations. "As far as new strategic partners, we are hopeful
that in the next few months we will be able to announce at least one semi-
global agreement with a market leader to aggressively market and help us
develop a global strategy for Multiferon(TM)."
To access the complete archived presentation, please visit:
http://www.informedinvestors.com/IIF_Client.asp?clientID=38239
In other news, Viragen provided an update from its attendance at the BIO
2004 Annual International Convention earlier this month in San Francisco. "I
am pleased to report that we received keen interest in our antibody, peptide
and transgenics technologies from potential partnering candidates. While these
are preliminary discussions, certain follow-up meetings are being planned for
the near future," reported Mr. Rice.
About Viragen, Inc.
Viragen is a biotechnology company specializing in the research,
development and commercialization of natural and recombinant protein-based
drugs designed to treat a broad range of viral and malignant diseases. These
protein-based drugs include natural human alpha interferon, monoclonal
antibodies and a peptide drug. Viragen's strategy also includes the
development of Avian Transgenic Technology as a biomanufacturing platform for
the large-scale, cost-effective production of therapeutic proteins.
Viragen is publicly traded on the American Stock Exchange (VRA).
Viragen's majority owned subsidiary, Viragen International, Inc., is publicly
traded on the Over-The-Counter Bulletin Board (VGNI). Viragen's key partners
and licensors include: Roslin Institute, Memorial Sloan-Kettering Cancer
Center, Cancer Research UK, University of Nottingham (U.K.), University of
Miami, America's Blood Centers and the German Red Cross.
For more information, please visit: http://www.Viragen.com
Viragen, Inc. Corporate Contact:
Douglas W. Calder, Director of Communications
Phone: (954) 233-8746; Fax:(954) 233-1414
E-mail: dcalder@viragen.com
The foregoing press announcement contains forward-looking statements that
can be identified by such terminology such as "expect," "potential,"
"suggests," "may," "will," "should," "could" or similar expressions. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results to be materially different
from any future results, performance or achievements expressed or implied by
such statements. In particular, management's expectations regarding future
research, development and/or commercial results could be affected by, among
other things, uncertainties relating to clinical trials and product
development; availability of future financing; unexpected regulatory delays or
government regulation generally; the Company's ability to obtain or maintain
patent and other proprietary intellectual property protection; and competition
in general. Forward-looking statements speak only as to the date they are
made. The Company does not undertake to update forward-looking statements to
reflect circumstances or events that occur after the date the forward-looking
statements are made.
SOURCE Viragen, Inc.
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Related links:
http://www.viragen.com
http://www.informedinvestors.com/IIF_Client.asp?clientID=38239
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20010426/HSTH018LOGO-b
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Douglas W. Calder, Director of
Communications, Viragen, Inc., +1-954-233-8746, or fax,
+1-954-233-1414, or dcalder@viragen.com
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