CellPro and Corange Reach Agreement.SEATTLE--(BUSINESS WIRE)--May 1, 1995--CellPro Incorporated (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CPRO CPRO Columbia Pike Revitalization Organization CPRO Connecticut Peer Review Organization, Inc. ) and Corange International Ltd. today announced that they have agreed in principle to modify agreements they entered in December 1993. Corange will pay CellPro $30 million in exchange for certain rights of supply and one million newly issued shares of CellPro common stock. CellPro has agreed to support Corange development and commercialization of gene medicine for therapeutic, diagnostic and research purposes for world wide markets by supplying CellPro CEPRATE Ceprate® Oncology A product line that selectively removes cell lines–eg, stem cells from BM and peripheral blood before tumor-purging therapy, or removes T cells to ↓ GVHD in allograft recipients. See Marrow ablation. systems on a non-exclusive basis. Diagnostic and other therapeutic rights in CellPro technology previously subject to the 1993 agreements will be returned to CellPro and such agreements will be terminated. The two companies will also exchange releases in settlement of all claims relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the 1993 agreements. Richard D. Murdock, president and chief executive officer of CellPro stated, "We are pleased to have resolved in this constructive way the differences between our two companies, and we are looking forward to a lasting and mutually profitable relationship with Corange as a customer in the gene therapy field." Dr. Gerald Moeller of Corange International stated, "This new agreement, which better satisfies our strategic needs, is the result of an intensive dialogue between the two companies." CellPro Incorporated is a Bothell, Washington-based company specializing in developing, manufacturing and marketing proprietary continuous-flow, cell-selection systems for use in a variety of therapeutic, diagnostic and research applications. NOTICE TO STOCKHOLDERS, ANALYSTS AND OTHER INTERESTED PARTIES: There will be a conference call on this subject at 8:30 PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT (Seattle time), or 11:30 EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT (New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of time) on Monday, May 1, 1995. To participate, please dial 800/772-6534 and give the operator the access code 193-670. Persons unable to participate at this time may listen to an "instant replay" of the call and the question-and-answer session through Friday, May 5, 1995, by calling 800/572-5479 and using the same access code. CONTACT: CellPro, Inc. Lee M. Parker, 206/485-7644 |
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