TORONTO, Sept. 9 /PRNewswire-FirstCall/ - ARIUS Research Inc., (TSX: ARI), a biotechnology company discovering and developing the next wave of antibody therapeutics, today announced that RiskMetrics ISS Canada, Canada's leading independent proxy firm, has indicated that they have no objection to the transaction, and are recommending that ARIUS shareholders and warrant holders vote FOR the proposed plan of arrangement whereby Roche will acquire all of ARIUS' outstanding shares and warrants.
"The comprehensive review undertaken by RiskMetrics ISS Canada recommends that ARIUS shareholders and warrant holders vote FOR the Arrangement and, in our opinion, provides significant independent validation that the transaction represents the best option for maximizing shareholder value," said Dr. David S. Young, President and Chief Executive Officer of ARIUS.
A special meeting of ARIUS shareholders and warrant holders will be held at 10:30 a.m. Eastern Time on September 16, 2008 at the Suites at 1 King West, Toronto, Ontario, Canada, M5H 1A1. ARIUS shareholders and warrant holders are encouraged to review the Notice of Special Meeting and Information Circular issued by the Company on August 12, 2008. The Information Circular provides, among other things, a detailed discussion of the process that led to the proposed Arrangement and the reasons behind ARIUS Board of Directors' unanimous recommendation that shareholders vote FOR the transaction. Pending the receipt of court and shareholder approval, the transaction is expected to be completed in late September.
ARIUS' Board asks shareholders and warrant holders to vote their proxy FOR the proposed Arrangement today by signing, dating and returning their proxies. The deadline for receiving proxies is September 12, 2008 at 5:00 p.m. Eastern Time. If shareholders have any questions about the information contained in the Information Circular or require assistance in completing their proxy forms, please contact ARIUS' proxy solicitation agent, The Laurel Hill Advisory Group, toll-free at 1-888-270-2614.
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
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this statement.
|SOURCE ARIUS Research Inc.|
Copyright©2008 PR Newswire.
All rights reserved