Navigation Links
Isolagen, Inc. Sells Switzerland Facility
Date:3/24/2008

EXTON, Pa., March 24 /PRNewswire-FirstCall/ -- Isolagen(TM), Inc. (AMEX: ILE) today announced the sale of its facility located in Switzerland for approximately $6.4 million, net. $5.85 million of the sale amount was paid at the time of closing and the remaining proceeds are expected within the next six weeks.

"This is an important development for us at Isolagen. The cash raised from the sale of the facility will enable us to further pursue the implementation of our business plan for 2008," said Nicholas L. Teti, Jr., Chairman of Isolagen, Inc. "In addition, I am very proud of this significant accomplishment by the new management and, as importantly, continue to be quite pleased at the progress of our clinical programs."

"The resources generated from the sale of our Swiss facility will play a key role in the further advancement of our clinical development projects for the Isolagen Therapy," said Declan Daly, CEO of Isolagen, Inc.

The Company will file a Form 8-K no later than March 25, 2008 with further information regarding the material accounting implications of the sale of the Swiss facility.

About Isolagen, Inc.

Isolagen(TM), Inc. (Amex: ILE) is an aesthetic and therapeutic company committed to developing and commercializing scientific advances and innovative technologies. The company's technology platform includes the Isolagen Process(TM), a cell processing system for skin and tissue rejuvenation which is currently in clinical development for a broad range of aesthetic and therapeutic applications including wrinkles, acne scars, burns and periodontal disease. Isolagen also commercializes a scientifically-advanced line of skincare systems through its majority-owned subsidiary, Agera(R) Laboratories, Inc. For additional information, please visit http://www.isolagen.com.

Isolagen Forward Looking Statements

All statements in this news release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release, include, without limitation, the timely receipt of the remaining proceeds from the sale of the Swiss facility. While management has based any forward- looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward- looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of our control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, as updated in "Item 1A. Risk Factors" in the Company's Quarterly Reports on Form 10-Q filed since the annual report. We operate in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company's Annual Report on Form 10-K for the year ended December 31, 2007, as well as other public filings with the SEC since such date.


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

Related medicine news :

1. Isolagen, Inc. Promotes Todd Greenspan to Chief Financial Officer (CFO)
2. Isolagen, Inc. Receives Notification Letter from American Stock Exchange
3. Isolagen, Inc. Postpones Annual Meeting
4. On The Go Healthcare Sells VAR Business to Wireless and Internet Space Development Leader FTS Group
5. Medifast Franchise Systems Sells First Territory in Baltimore
6. HLTH Corporation Sells its Minority Interest in Emdeon Business Services to General Atlantic and Hellman & Friedman for $575 Million
7. Sentillion Announces Strong Q4 Performance; Signs 10 New Customers; Sells 95,800 Licenses
8. MediPurpose Sells 500 Millionth Safety Lancet to IMCO Member MMS Medical
9. TeamStaff Sells Per Diem Business Unit
10. Turnaround Partners Sells Minority Ownership in Interactive Nutrition to Natural Nutrition
11. Informed Medical Communications Sells Consumer Internet Division to Revolution Health
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/27/2016)... ... May 27, 2016 , ... ... bolstered by inspiring human interest stories, courtesy of leaders in the nursing and ... within the industry, from leading advocates and associations—namely Jones & Bartlett Learning. , ...
(Date:5/26/2016)... ... ... last week’s media reports hinting at a June rate hike after the Federal Reserve’s ... interest rate increase, according to Rajeev Dhawan of the Economic Forecasting Center at Georgia ... (FOMC) dot charts are of interest to the press for their noise potential,” Dhawan ...
(Date:5/26/2016)... , ... May 26, 2016 , ... ... clinical outcomes, hosted members and suppliers for its inaugural Member Conference at the ... their mission of elevating the operational health of America’s healthcare providers. , The ...
(Date:5/26/2016)... ... May 26, 2016 , ... The Woodlands at John ... a new model of care for living and healing, celebrated its grand opening, today. ... in a Real Home provided by Empowered Staff. , “This is an incredibly fulfilling ...
(Date:5/26/2016)... , ... May 26, 2016 , ... ... and development solutions for drugs, biologics, consumer health and global clinical supply services, ... in Korea to support the company’s continued investment and strategic growth plans in ...
Breaking Medicine News(10 mins):
(Date:5/27/2016)... Israel , May 27, 2016 ... of the Dario™ Diabetes Management Tool, today announced that the ... at the Marcum MicroCap Conference being held June 1-2 in ... Micro Invitational, being held June 7-9 in Los ... Ben-David will discuss recent corporate and operational milestones, including the ...
(Date:5/27/2016)... May 27, 2016 Amarantus BioScience Holdings, ... developing products for Regenerative Medicine, Neurology and Orphan Diseases, today announced ... presenting at two upcoming investor conferences: SeeThru Equity ... Avenue, New York City , NY ... Marcum MicroCap Conference   Where: Grand Hyatt Hotel, ...
(Date:5/26/2016)... TARE (Transarterial Radio-embolization) Using ... and Overall Decreased Use of Hospital Resource ... specialist healthcare company, has today announced the publication ... of ISPOR (International Society for Pharmacoeconomics and Outcomes ... using yttrium-90 glass microspheres is associated with cost ...
Breaking Medicine Technology: