Roche starts acquisition process of ARIUS to gain access to new screening platform for antibody th...(-weighted average closing price ending 1...)

Date:7/22/2008

-weighted average closing price ending 15 May 2008 (the last trading day prior to ARIUS' announcement that third parties have shown interest in the company and its technologies). Roche will also acquire all of the issued and outstanding warrants of ARIUS. Roche will pay C$1.44 for each Class F Warrant and C$1.78 for each Class G Warrant. Additional information regarding the deal structure will be set out in the management information circular to be provided to shareholders and warrant holders.

The acquisition of ARIUS will be completed by way of a statutory plan of arrangement under Canadian law. In addition to the approval of ARIUS' shareholders and warrant holders, the transaction will also require court approval. As part of the transaction, shareholders, warrant holders and management representing 54.3% of outstanding shares and 72.3% of outstanding warrants have entered into an agreement to support the transaction at the shareholder meeting. The acquisition, which is also subject to customary closing conditions including regulatory approvals, is expected to close in the third quarter of 2008. It is the intention that the ARIUS site will remain open and serve as a centre for the discovery of innovative biotherapeutics, initially focusing on the areas of Oncology and Inflammation.

Aquilo Partners Inc., Reedland Capital Partners, and Dundee Securities acted as financial advisors to ARIUS in connection with this transaction.

About ARIUS

ARIUS is a biotechnology company discovering and developing the next wave of antibody therapeutics to treat cancer and other diseases. At the core of the Company is a unique, proprietary FunctionFIRST(TM) technology platform that generates and selects therapeutic antibodies based on their activity. This antibody generation engine has enabled ARIUS to develop a pipeline of more than 400 antibody drug candidates. The company was founded in 1999 by current President and Chief Executive, David S. Young. For fu
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SOURCE ARIUS Research Inc. Copyright©2008 PR Newswire. All rights reserved

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