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:6/27/2016)... Overland Park, KS (PRWEB) , ... June 27, 2016 , ... ... leader in retailers of Eyeglasses . , Millions of individuals in the United ... life, eyeglasses have become a way to both correct vision and make a fashion ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, FCPX users ... - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms over 1,300 ... Pro X . Simply select a ProHand generator and drag it above media or ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the ... In terms of the latter, setting the bar too high can result in disappointment, ... just slow progress toward their goal. , Research from PsychTests.com reveals ...
(Date:6/24/2016)... ... June 24, 2016 , ... The ... in Dallas that it will receive two significant new grants to support its ... PHA marked its 25th anniversary by recognizing patients, medical professionals and scientists for ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... ITASCA, Ill. , June 23, 2016  In a startling ... states are failing their residents by lacking a comprehensive, proven plan ... , a definitive ranking of how states are tackling the ... rating to only four states – Kentucky , ... and Vermont . Of the 28 failing states, ...
(Date:6/23/2016)... , June 23, 2016 Bracket , a ... its next generation clinical outcomes platform, Bracket eCOA (SM) ... on June 26 – 30, 2016 in Philadelphia ... electronic Clinical Outcome Assessment product of its kind to fully ... Bracket eCOA 6.0 is a flexible platform for ...
(Date:6/23/2016)... -- Guerbet announced today that it has been named a ... One of 12 suppliers to receive the ... of Premier members through exceptional local customer service and ... lower costs. "We ... customer service from Premier," says Massimo Carrara , ...
Breaking Medicine Technology: