DGAP-News: Viridax meets prospective finncial partners in Germany
(firmenpresse) - Viridax Corporation / Key word(s): Miscellaneous
17.11.2010 08:30
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November 17, 2010 - Viridax Corporation (FSE:VRC) ('Viridax' or the
'Company') is pleased to report that the Company has entered into
negotiations with a number of prospective financial partners for the
purpose of securing the working capital required to complete development of
the Company's bacteriophage, genetically-selected versions of
naturally-occurring viruses that provide an effective and efficient
clinical process for the treatment of diseases characterized by
antibiotic-resistant bacteria such as staph infections and tuberculosis.
Bacteriophage are viruses that are specifically developed for the purpose
of parasitizing and killing bacteria. Richard C. Honour, PhD. and Dr.
Warren Wheeler will be in Frankfurt for the German Equity Forum commencing
on November 22nd and, more specifically, to meet with a number of
prospective institutional and pharmaceutical industry-based financial
partners. With respect to the identification of a long term financial
partner Dr. Honour, the Company's President and C.E.O. commented that:
'Given the likelihood that we will license the Viridax intellectual
property rights to a major pharmaceutical company after the completion of
the clinical testing associated with Phase II approval at the F.D.A., it is
in the best interest of our shareholders to take advantage of our presence
in Germany to pursue negotiations with some of the people with whom we have
maintained a dialogue. We intend to provide a status report on our
development of the bacteriophage, chart a course forward to a marketing
model and negotiate the best financing deal possible consistent with our
primary objective of marketing the Company's rights on a basis that will
significantly enhance shareholder values. We have an opportunity; we must
seize it.'
About Viridax Corporation
Viridax Corporation was formed to develop new products for the treatment of
respiratory and systemic infections incited by Staphylococcus aureus (S.
aureus) and other Staphylococcal species. The management of Viridax is
primarily focused on providing safe, effective and affordable treatment
alternatives to conventional antibiotics, and to demonstrate the clinical
utility of the Viridax products by substantially reducing the incidence,
prevalence, morbidity and mortality of targeted bacterial infections in
both community and hospital settings. The Company plans to develop products
that are less toxic and more efficacious than conventional antibiotics, and
at lower cost, but that will target antibiotic-resistant bacteria, thus
providing access to extensive global markets. Management intends to
manufacture and evaluate the initial S. aureus bacteriophage product in
compliance with US Food and Drug Administration (FDA) guidelines to assure
approval by US and international regulatory authorities.
On behalf of the Board of Directors
Viridax Corporation
Richard C. Honour, PhD.
President and C.E.O.
FORWARD-LOOKING STATEMENTS
Statements in this document which are not purely historical are
'forward-looking statements', including any statements regarding the
intent, belief or current expectations of Viridax Corporation and members
of its management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that such forward-looking
statements are not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from those
contemplated by such forward-looking statements. Important factors
currently known to management that could cause actual results to differ
materially from those in forward-looking statements include, among others,
material changes in the global capital markets that may impact negatively
on the Company's ability to secure the working capital required to complete
the development and production of its pharmaceutical products on a timely
basis, the competitive nature of the biopharmaceutical industry and the
ability of the Company to attract the personnel required to efficiently
execute the Company's business plan. Forward looking statements are made
based on management's beliefs, estimates and opinions on the date the
statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as updates may be required by
applicable law. Such forward-looking statements reflect our current views
with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and uncertainties
outlined in our most recent financial statements. Although the Company
believes that the plans, expectations and intentions contained in this news
release are reasonable, there can be no assurance those plans, expectations
or intentions will prove to be accurate. Investors should consider all of
the information set forth herein. This news release shall not constitute an
offer to sell or the solicitation of an offer to buy securities nor shall
there be any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to qualification under the
applicable securities laws of any such jurisdiction. The Company has filed
a prospectus with the Bundesanstalt fur Finanzdienstleistungsaufsicht which
it intends to amend in order to reflect the material changes associated
with the recent merger with Dynamic Global Recycling Co. Ltd.
Richard C. Honour, PhD.
President and C.E.O.
Tel.(425) 772-1473
Email: rhono(at)viridax.com
Website: www.viridax.com
17.11.2010 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Datum: 17.11.2010 - 08:30 Uhr
Sprache: Deutsch
News-ID 32644
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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