Important note: Information in this article was accurate in 1996. The state of the art may have changed since the publication date.
PR Newswire, 810 Seventh Avenue, New York, NY 10019 - Tuesday, 8 October 1996
Under the agreement, Viru-Tech has purchased $3 million of Immune Response stock at a price of $12.77 which reflects a 50% premium over the market price. Viru-Tech will also be responsible for the cost of any clinical trials that may be required to facilitate commercialization of REMUNE in the territory. Immune Response will provide REMUNE for use in any required clinical trials.
"When Viru-Tech approached us about the possibility of developing and commercializing REMUNE in South America and Central America, we were very enthusiastic about the important role this therapy may play in the continued worldwide effort to treat HIV infection," said Dennis J. Carlo, Ph.D., president and chief executive officer.
The Immune Response Corporation is a biopharmaceutical company based in Carlsbad, California, with technologies in four core areas: HIV, autoimmune disease, gene therapy and cancer. The company is conducting clinical trials using immune-based therapies for HIV, psoriasis, rheumatoid arthritis, multiple sclerosis and colon cancer, and preclinical studies for brain and prostate cancers. The company is also developing gene therapy treatments for cardiovascular disease, hemophilia and hepatitis.
This news release contains forward-looking statements. Actual results could vary from those expected due to a variety of risk factors, including the uncertainty of successful completion of preclinical and clinical trials, set forth from time to time 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, 1995. 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.
CONTACT: Debra L. Altman, Investor Relations of Immune Response Corporation, 619-431-7080/ 08:03 EDT
Copyright (c) 1996/PR NewsWire. Reproduced with permission. Reproduction of this article (other than one copy for personal reference) must be cleared through the Permissions Desk, PR Newswire, 810 Seventh Avenue, New York, NY 10019.
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