CARLSBAD, Calif., July 25 /PRNewswire/ -- The Immune Response Corporation
(Nasdaq: IMNR) announced today that it will vigorously defend several lawsuits
filed in the U.S. District Court for the Southern District of California
accusing the Company and certain of its officers of violating securities laws.
The suits allege violations of federal securities laws in connection with
disclosures regarding clinical trials of REMUNE(TM) (HIV-1 Immunogen), the
Company's investigational immune-based therapy, during the period from May 31,
1999 to July 6, 2001. The suits seek damages on behalf of an alleged class of
investors who purchased publicly traded securities of the Company during that
period.
The Company said the suits are without merit and that it will vigorously
defend the lawsuits.
The Immune Response Corporation is a biopharmaceutical company based in
Carlsbad, California, developing immune-based therapies to induce specific
T-cell responses for the treatment of HIV, autoimmune diseases and cancer. In
addition, the Company is developing a targeted non-viral delivery technology
for gene therapy, which is designed to enable the delivery of genes directly
to the liver via intravenous injection.
NOTE: Company information can also be located on the Internet Web site:
http://www.imnr.com.
This news release contains forward-looking statements. Actual results
could vary materially from those expected due to a variety of risk factors,
including, but not limited to, whether clinical trials will be successfully
concluded, whether REMUNE will be approved for marketing or be successfully
commercialized, and whether or not the Company will be able to successfully
defend against these lawsuits. Those factors are discussed more thoroughly in
The Immune Response Corporation's SEC filings, including but not limited to
its report on Form 10-K for the year ended December 31, 2000 and subsequent
Form 10-Q. The Company undertakes no obligation to publicly release the
result of any revisions to these forward-looking statements which may be made
to reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
REMUNE(TM) is a trademark of The Immune Response Corporation.
SOURCE The Immune Response Corporation
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Related links:
http://www.imnr.com
Company News On-Call:
http://www.prnewswire.com/comp/434675.html
CONTACT:
Kathy Lane of The Immune Response
Corporation, +1-760-771-2236
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