Navigation Links
VaxGen Common Stock Now Quoted on OTC Bulletin Board
Date:3/14/2008

Quotation satisfies closing condition to the proposed merger with Raven

biotechnologies, inc.

SOUTH SAN FRANCISCO, Calif., March 14 /PRNewswire-FirstCall/ -- VaxGen, Inc. (OTC Bulletin Board: VXGN), a biopharmaceutical company, announced that its stock is now quoted on the OTC Bulletin Board. Punk, Ziegel and Company is the market maker and assisted VaxGen with the qualification process.

(Logo: http://www.newscom.com/cgi-bin/prnh/19991112/VAXGENLOGO)

During 2007, the company worked closely with its auditors to address outstanding accounting issues and to bring its financial reporting current by filing forms 10-K for the years ending December 31, 2004, 2005 and 2006 and the intervening forms 10-Q for those years and the first three quarters of 2007. With the company now current, and its S-4 and resale S-1 registration statements now effective, it has been cleared for OTC quotation. The company intends to seek a listing on NASDAQ or another national exchange as soon as practicable.

"We are very pleased at the achievement of this further significant milestone on the road to listing on a recognized national exchange," stated James P. Panek, VaxGen's President and CEO. "In addition to the expectation of improved liquidity for investors, this quotation satisfies the closing condition to the proposed merger between VaxGen and Raven requiring that VaxGen be listed on an approved trading market."

VaxGen's Board of Directors has set March 28th as the date for the Special Meeting of Stockholders to vote on the proposed merger.

About VaxGen

VaxGen is a biopharmaceutical company based in South San Francisco, California. The company owns a state-of-the-art biopharmaceutical manufacturing facility with a 1,000-liter bioreactor that can be used to make cell culture or microbial biologic products. For more information, please visit the company's web site at http://www.vaxgen.com.

About Raven

Raven biotechnologies, inc. is a privately held biotechnology company focused on the development of monoclonal antibody therapeutics for treating cancer. Raven's lead product candidate, RAV12, targets adenocarcinomas and is in clinical development for the treatment of gastrointestinal and other cancers. Raven, which is based in South San Francisco, California, has identified multiple candidate therapeutic MAbs for many cancer indications including lung, colon, pancreatic, prostate, breast, brain, and ovarian cancer. Please visit http://www.ravenbio.com for more information about Raven biotechnologies, inc.

Note: This press release contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include, without limitation, the expectation of improved liquidity as a result of quotation on the OTC Bulletin Board and the ability of the company to list on a national exchange. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Additional information concerning these and other risk factors is contained in VaxGen's Annual Report on Form 10-K for the year ended December 31, 2006 and most recently filed Quarterly Report on Form10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release. VaxGen and Raven undertake no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

Additional Information and Where to Find It

VaxGen has filed a registration statement on Form S-4, and a related proxy statement/prospectus, in connection with the merger with Raven biotechnologies, inc. Investors and security holders are urged to read the registration statement on Form S-4 and the related proxy statement/prospectus (including any amendments or supplements to the proxy statement/prospectus) because they contain important information about the merger transaction. Investors and security holders may obtain free copies of these documents and other documents filed with the SEC at the SEC's web site at http://www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by contacting VaxGen Investor Relations at the email address: ir@vaxgen.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

VaxGen, Raven and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of VaxGen in connection with the merger transaction. Information regarding the special interests of these directors and executive officers in the merger transaction is included in the proxy statement/prospectus described above. Additional information regarding the directors and executive officers of VaxGen is also included in VaxGen's definitive proxy statement for its 2007 Annual Meeting of Stockholders which was filed with the SEC on November 21, 2007 and its Annual Report on Form 10-K for the year ended December 31, 2006, which was filed with the SEC on August 30, 2007. These documents are available free of charge at the SEC's web site at http://www.sec.gov and from Investor Relations at VaxGen as described above.


'/>"/>
SOURCE VaxGen, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. VaxGen Files 2006 Financial Statements and Provides Cash Update
2. VaxGen Further Restructures to Preserve Cash as It Pursues Strategic Initiatives
3. VaxGen Files First Quarter 2007 Financials
4. Jack Anthony to Resign From VaxGens Board After Accepting CEO Position at Osprey Pharmaceuticals
5. VaxGen Files Last Outstanding Periodic Report With SEC
6. VaxGen Addresses MPM Claims in Letter to Stockholders
7. VaxGen Common Stock Expected to Qualify for Quotation on OTC Bulletin Board
8. VaxGen Stockholders Overwhelmingly Approve Reverse Split Proposal
9. VaxGen and Raven Announce Form S4 Registration Statement Declared Effective
10. VaxGen to Present at the 10th Annual BIO CEO and Investor Conference
11. VaxGen Reports Financial Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a global ... Directors has approved the payment of a quarterly cash dividend ... The cash dividend of $0.24 per share will be ... record as of the close of business on June 24, ... the Board of Directors and may be adjusted as business ...
(Date:5/23/2016)... ... May 23, 2016 , ... ... focused on molecular nanotechnology, announced the winners for the 2015 Foresight Institute Feynman ... Feynman, are given in two categories, one for experiment and the other for ...
(Date:5/20/2016)... ... May 20, 2016 , ... Korean researchers say Manumycin A triggers apoptosis, ... new way to treat the disease. Surviving Mesothelioma has just posted an article on ... several Korean institutions based their mesothelioma study on the fact the Manumycin A, a ...
(Date:5/19/2016)... There is no saying when ... relentless pressures in pricing and lack in consumer confidence. ... though - numerous opportunities are up for grabs but ... presents four names in this sector: Portola Pharmaceuticals Inc. ... VTAE ), Anthera Pharmaceuticals Inc. (NASDAQ: ...
Breaking Biology Technology:
(Date:3/11/2016)... March 11, 2016 --> ... research report "Image Recognition Market by Technology (Pattern Recognition), ... Advertising), by Deployment Type (On-Premises and Cloud), by Industry ... published by MarketsandMarkets, the global market is expected to ... 29.98 Billion by 2020, at a CAGR of 19.1%. ...
(Date:3/10/2016)... , March 10, 2016   Unisys Corporation (NYSE: ... Border Protection (CBP) is testing its biometric identity solution ... Diego to help identify certain non-U.S. citizens leaving ... The test, designed to help determine the efficiency and accuracy ... in February and will run until May 2016. --> ...
(Date:3/9/2016)... -- Nigeria . Recently, the ... public service employees either did not exist with their ...    --> Nigeria . Recently, ... 23,000 public service employees either did not exist with ... unlawfully.    --> DERMALOG, the biometrics innovation ...
Breaking Biology News(10 mins):