Navigation Links
Court issues final order approving Biomira's move to U.S. and name change to Oncothyreon
Date:12/5/2007

EDMONTON, Dec. 5 /PRNewswire-FirstCall/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) ("Biomira", the "Company") announced that the Alberta Court of Queen's Bench today issued a Final Order approving the plan of arrangement under which the Company will move to the United States and change its name to Oncothyreon Inc. ("Oncothyreon"). Biomira also announced that the Board of Directors, upon review of the shareholder vote and other pertinent matters, yesterday voted unanimously to proceed with the plan of arrangement.

Biomira intends to file articles of amendment to effect the plan of arrangement on or about December 10, 2007, and to commence trading as Oncothyreon on the Nasdaq National Market under the symbol "ONTY" and on the Toronto Stock Exchange under the symbol "ONY" shortly thereafter. Letters of transmittal are expected to be mailed to registered shareholders commencing later today.

Upon completion of the plan of arrangement, Oncothyreon will become the parent corporation of a successor corporation of the current Biomira and its subsidiaries. Holders of common shares of Biomira will receive one-sixth of a share of common stock of Oncothyreon in exchange for each common share of Biomira. Oncothyreon intends to establish its headquarters in or near Seattle, Washington.

About Biomira

Biomira is a biotechnology company specializing in the development of innovative therapeutic products for the treatment of cancer. Biomira's goal is to develop and commercialize novel synthetic vaccines and targeted small molecules that have the potential to improve the lives and outcomes of cancer patients.

Forward Looking Statements

In order to provide Biomira's investors with an understanding of its current intentions and future prospects, this release contains statements that are forward looking, including statements relating to the proposed reincorporation of Biomira from Canada to the United States and the timing thereof. These forward-looking statements represent Biomira's intentions, plans, expectations and beliefs and are based on its management's experience and assessment of historical and future trends and the application of key assumptions relating to future events and circumstances.

Forward-looking statements involve risks and uncertainties, including risks and uncertainties related to the proposed reincorporation transaction, Biomira's business and the general economic environment. Many of these risks and uncertainties are beyond Biomira's control. These risks, uncertainties and other factors could cause our actual results to differ materially from those projected in forward-looking statements. Risks, uncertainties, and assumptions include those predicting the completion of the proposed arrangement and reincorporation and the other risks and uncertainties described in the reports and other documents, including the registration statement on Form S-4, filed by either Biomira Inc. or Oncothyreon Inc. with the SEC and/or Canadian regulatory authorities.

Although Biomira believes that any forward-looking statements contained herein are reasonable, it can give no assurance that its expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement. For a detailed description of the risks and uncertainties associated with Biomira and Oncothyreon, you are encouraged to review the official corporate documents filed with the securities regulators in Canada and the United States, including the risk factors described in the amended registration statement on Form S-4 filed by Oncothyreon Inc. with the SEC and on SEDAR. Biomira and Oncothyreon are under no obligation to (and expressly disclaim any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.


'/>"/>
SOURCE Biomira Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Texas Supreme Court Rules Against Medicare HMOs in Hospital Reimbursement Fight
2. Claim Filed Against the Company and Nine Other Defendants in the Haifa Magistrates Court
3. First Circuit Court of Appeals Rules Against Philip Morris in Lights Class Action
4. Wyeth and Nycomed Announce Court Denial of Preliminary Injunction
5. Massachusetts State Court Hears Suit by Breastfeeding Mother on Medical Licensing Exam
6. Cristina Saralegui Joins Celebrities Including Matthew McConaughey, Courteney Cox and Mariska Hargitay to Raise Money for Breast Cancer Research
7. Filing for Reconsideration/Press Conference ACUNA v. TURKISH, Historic Informed Consent Abortion Case to the New Jersey Supreme Court
8. Rulings Send Lawsuits Against State Farm, American Family Back to Court, Hagens Berman Sobol Shapiro Announces
9. NBME Appeals Massachusetts Judges Reversal of Lower Court in Suit for Extra Break Time During Medical Licensing Exam
10. New Report Says Health Courts Bureaucracies Offer Big Financial Burdens and Loss of Patient Rights
11. ALLs Judie Brown: Supreme Court is Wrong on Contraception Ruling
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/10/2016)... ... 10, 2016 , ... Everseat has joined the award-winning Allscripts ... physicians. The integration will enable Allscripts users to post open appointments to the ... app. , The partnership gives Everseat substantial added power to help Allscripts meet ...
(Date:2/10/2016)... ... February 10, 2016 , ... Workrite Ergonomics this week announced the launch ... mounts ever. , “Our goal was to develop a product from the ground ... we have ever created.” said Darren Hulsey, Product Manager for Workrite Ergonomics. “The ...
(Date:2/10/2016)... , ... February 10, 2016 , ... Anxiety of older ... the start of Medicare Part D a decade ago, according to The Senior ... older adults on how they are coping with rapidly rising costs. “The implications ...
(Date:2/10/2016)... ... February 09, 2016 , ... ... Face and Body Specialists are delighted to welcome a new addition to their ... Face and Body Specialists as a nurse practitioner performing cosmetic procedures ...
(Date:2/10/2016)... ... February 10, 2016 , ... It’s that time of year when most ... of the Interscholastic Athletic Association of Maryland (IAAM), Hall of Fame athlete and Garrison ... are cast aside. , That’s why one of her first decisions when her IAAM ...
Breaking Medicine News(10 mins):
(Date:2/9/2016)... Inc. (NASDAQ: MSON ), an international surgical ... therapeutic ultrasonic products for spine surgery, skull-based surgery, ... other surgical applications, today announced financial results for ... fiscal year 2016 ended December 31, 2015. ... Highlights for the second quarter and first half ...
(Date:2/9/2016)... 2016 QGEN ; ... Abschluss eines Kooperationsvertrags mit 10x Genomics für ... den Bereichen Next-Generation-Sequencing (NGS), Single-Cell-Biology und Bioinformatik ... Prime Standard: QIA) gab heute den Abschluss ... Entwicklung und Förderung umfassender Lösungen in den ...
(Date:2/9/2016)... Feb. 9, 2016   AllCare Plus Pharmacy ... Gold Seal of Approval ® for Home ... performance standards. The Gold Seal of Approval ® ... commitment to providing safe and effective care.  ... Pharmacy underwent a rigorous on-site survey in January 2016. ...
Breaking Medicine Technology: