TORONTO, Sept. 18 /PRNewswire-FirstCall/ - ARIUS Research Inc., (TSX: ARI), a biotechnology company discovering and developing the next wave of antibody therapeutics, today announced that ARIUS Research Inc. shareholders and warrant holders approved the proposed plan of arrangement involving the Company and Roche.
At a special meeting held in Toronto on September 16, 2008, ARIUS shareholders and warrant holders approved the transaction, with 99.99% of Common Shareholders and Class F Warrant holders, voting as a class, and 100% of Class G Warrant holders, represented in person or by proxy, voting in favor of the transaction. The completion of the transaction will result in Common Shareholders receiving $2.44 per Common Share, holders of Class F Warrants receiving $1.44 per Class F Warrant, and holders of Class G Warrants receiving $1.78 per Class G Warrant. The transaction is subject to final Court approval on September 19, 2008, and is expected to close shortly after obtaining Court approval and upon the satisfaction of certain closing conditions.
ARIUS is a biotechnology company discovering and developing the next wave of antibody therapeutics. Established in 1999, ARIUS has built a proprietary technology platform, FunctionFIRST(TM), that rapidly identifies and selects antibodies based on their functional ability to affect disease. This antibody generation engine has enabled ARIUS to assemble a portfolio of more than 500 antibody candidates. In addition to the antibodies it is developing in-house, ARIUS has ongoing partnerships with key biotechnology and drug development companies. ARIUS is listed on the TSX under the symbol "ARI". For further information, visit http://www.ariusmabs.com
Certain statements in this news release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Forward-looking statements in this release include, but are not limited to, ARIUS successfully advancing its new product programs as well as licensing opportunities. These statements are only predictions and actual events or results may differ materially. Factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements include, but are not limited to: early stage of development; technology and product development; dependence on and management of current and future corporate collaborations; future capital needs; uncertainty of additional funding; no assurance of market acceptance; dependence on proprietary technology and uncertainty of patent protection; intense competition; manufacturing and market uncertainties; and government regulation. These and other factors are described in detail in ARIUS' Annual Report, forthcoming news releases and other filings with Canadian securities regulatory authorities available at http://www.sedar.com. Forward-looking statements are based on our current expectations and ARIUS is not obligated to update such information to reflect later events or developments.
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this statement.
|SOURCE ARIUS Research Inc.|
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