PLANTATION, Fla., Dec. 20 /PRNewswire-FirstCall/ -- Viragen, Inc.
(Amex: VRA) today reported voting results from its 2005 Annual Meeting of
Stockholders held on December 15th in Plantation, Florida.
Stockholders approved all proxy voting items including:
1) The reelection of Dr. Randolph A. Pohlman and the election of Dr. Nancy
A. Speck as Class B members of the Company's Board of Directors.
2) The possible issuance of more than 19.9% of VRA common stock at below
fair market value in a financing transaction pursuant to which Viragen
received gross proceeds of $2 million through the sale of its convertible
debentures and common stock purchase warrants to four institutional investors.
3) An amendment to Viragen's Certificate of Incorporation to increase the
number of shares of common stock it is authorized to issue, from 100 million
to 250 million.
4) The appointment of Ernst & Young LLP as Viragen's independent
registered public accounting firm for the fiscal year ending June 30, 2006.
In addition, it was reported at the Meeting that representatives of
Viragen met with Swedish regulatory authorities in connection with their
continuing review of Viragen's application seeking approval for Multiferon(R)
as a new first-line adjuvant therapy for the treatment of malignant melanoma.
Viragen believes that the meeting was positive, and it continues to provide
responses to the regulatory body's requests for information. A final decision
on the application is expected in the very near future. Viragen remains
optimistic of a positive outcome to its application.
About Viragen, Inc.:
With global operations in the U.S., Scotland and Sweden, Viragen is a
biotechnology company engaged in the research, development, manufacture and
commercialization of pharmaceutical proteins for the treatment of viral
diseases and cancers. Our product portfolio includes: Multiferon(R) (multi-
subtype, natural human alpha interferon) targeting a broad range of infectious
and malignant diseases; and humanized monoclonal antibodies targeting specific
antigens over-expressed on many types of cancers. We are also pioneering the
development of Avian Transgenic Technology, with the renowned Roslin
Institute, as a revolutionary manufacturing platform for the large-scale,
efficient and economical production of human therapeutic proteins and
antibodies.
For more information, please visit: http://www.Viragen.com
Viragen, Inc. Corporate Contact:
Douglas 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," "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
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CONTACT:
Douglas Calder, Director of Communications,
Viragen, Inc., +1-954-233-8746, or fax, +1-954-233-1414, or
dcalder@viragen.com
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