Navigation Links
Vasogen Provides Corporate Update

MISSISSAUGA, ON, Jan. 6 /PRNewswire-FirstCall/ - Vasogen Inc. (NASDAQ: VSGN; TSX:VAS) today provided an update on corporate activities. Pursuant to a previously announced restructuring plan, Vasogen has been reviewing strategic alternatives for the purpose of enhancing shareholder value. This process has included screening, reviewing, and short-listing potential opportunities including the sale of the Company, a merger or acquisition, and exploring the monetization of certain tangible and intangible assets. The process has also included a review of the potential out-licensing of assets, asset divestiture, or liquidation of the Company. Vasogen also reported that during this process it has completed a number of initiatives to significantly reduce its base cash burn rate and conserve cash and completed its fiscal year end with over $8.5 million in cash resources.

"While the strategic review process has taken longer than hoped, we continue to be intensely focused on bringing this process to a close," commented Chris Waddick, President and CEO of Vasogen. "Based on our current status, we anticipate being in a position to provide a further update to shareholders before the end of January."

In October 2008, the NASDAQ Stock Market had suspended the enforcement of the rules requiring a minimum $1 closing price until January 20, 2009. Due to the "continued extraordinary market conditions" the NASDAQ has recently extended this suspension. Accordingly, the NASDAQ will not take action to delist any security, including Vasogen's shares, for a violation of the minimum bid price rule during the suspension, which now has been extended until April 20, 2009. Finally, effective December 31, 2008, Mr. Thomas Clarke has retired from Vasogen's Board of Directors. The Company wishes to thank Mr. Clarke for his services.

Certain statements in this document constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and/or "forward-looking information" under the Securities Act (Ontario). These statements may include, without limitation, plans to complete a sale, merger, acquisition, or other strategic alternative, statements regarding the status of development, or expenditures relating to the Celacade(TM) System or our VP series of drugs including VP015 and VP025, plans to fund our current activities, statements concerning our partnering activities, health regulatory submissions, strategy, future operations, future financial position, future revenues and projected costs. In some cases, you can identify forward-looking statements by terminology such as "may", "will", "should", "expects", "plans", "anticipates", "believes", "estimated", "predicts", "potential", "continue", "intends", "could", or the negative of such terms or other comparable terminology. We made a number of assumptions in the preparation of these forward-looking statements. You should not place undue reliance on our forward-looking statements, which are subject to a multitude of risks and uncertainties that could cause actual results, future circumstances or events to differ materially from those projected. These risks include, but are not limited to, the outcome of our strategic review, securing and maintaining corporate alliances, the need for additional capital and the effect of capital market conditions and other factors, including the current status of our programs, on capital availability, the potential dilutive effects of any financing and other risks detailed from time to time in our public disclosure documents or other filings with the Canadian and U.S. securities commissions or other securities regulatory bodies. Additional risks and uncertainties relating to our Company and our business can be found in the "Risk Factors" section of our Annual Information Form and Form 20-F for the year ended November 30, 2007, as well as in our later public filings, including our Management's Discussion and Analysis for the quarter ended August 31, 2008. The forward-looking statements are made as of the date hereof, and we disclaim any intention and have no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Vasogen Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Vasogen Announces Third Quarter Conference Call and Webcast of Bio InvestorForum 2007 Presentation
2. Vasogen Announces Third Quarter 2007 Results
3. Vasogen to Webcast Presentations at Three Upcoming Healthcare Conferences
4. Vasogen Provides an Update on ACCLAIM-II Preparations
5. Vasogen and Grupo Ferrer Announce Initial Roll-out of Celacade - New Therapy for Chronic Heart Failure
6. Vasogen to Conduct Year-end 2007 Conference Call
7. Vasogen Announces 2007 Year-End Results
8. The Lancet Publishes Vasogens ACCLAIM Results
9. Vasogens Research Published in European Journal of Neuroscience
10. Vasogen to Present at the BIO CEO & Investor Conference and Participate on the Non-Cancer Immunotherapy Panel
11. Vasogen Provides Update on ACCLAIM II Program
Post Your Comments:
(Date:11/25/2015)... BRUSSELS , November 25, 2015 ... in cat and human plaque and pave the way for ... health problems in cats     ... the most commonly diagnosed health problems in cats, yet relatively ... until now. Two collaborative studies have been conducted by researchers ...
(Date:11/25/2015)... 2015  Neurocrine Biosciences, Inc. (Nasdaq: NBIX ) ... CEO of Neurocrine Biosciences, will be presenting at the ... New York . .   ... 5 minutes prior to the presentation to download or ... will be available on the website approximately one hour ...
(Date:11/25/2015)... ... November 25, 2015 , ... A long-standing ... Aerospace Professionals (OPBAP) has been formalized with the signing of a Memorandum of ... with OPBAP leaders Capt. Karl Minter and Capt. Albert Glenn Tuesday, November 24, ...
(Date:11/25/2015)... , November 25, 2015 ... Research Report is a professional and in-depth study ...      (Logo: ) , ... of the industry including definitions, classifications, applications and ... provided for the international markets including development trends, ...
Breaking Biology Technology:
(Date:11/17/2015)... PARIS , November 17, 2015 ... November 2015.   --> Paris from ... --> DERMALOG, the biometrics innovation leader, has invented the ... and fingerprints on the same scanning surface. Until now two ... fingerprints. Now one scanner can capture both on the same ...
(Date:11/12/2015)... golden retriever that stayed healthy despite having the gene ... new lead for treating this muscle-wasting disorder, report scientists ... and Harvard and the University of São Paolo in ... pinpoints a protective gene that boosts muscle regeneration, ... Children,s lab of Lou Kunkel , PhD, is ...
(Date:11/10/2015)... , Nov. 10, 2015 ... behavioral biometrics that helps to identify and verify ... Signature is considered as the secure and accurate ... identification of a particular individual because each individual,s ... accurate results especially when dynamic signature of an ...
Breaking Biology News(10 mins):