Corixa and GlaxoSmithKline Announce Expiration of Hart-Scott-Rodino Waiting Period.SEATTLE & PHILADELPHIA, Pa. -- Corixa Corporation (Nasdaq:CRXA) and GlaxoSmithKline (NYSE NYSE See: New York Stock Exchange :GSK GSK GlaxoSmithKline plc (pharmaceutical company) GSK Glycogen Synthase Kinase GSK Gruppentraining Sozialer Kompetenzen (Germany) GSK Greenland Shark (FAO fish species code) ), today announced that the waiting period imposed by the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the in connection with proposed acquisition of Corixa by GlaxoSmithKline expired on June 13, 2005. The transaction remains subject to various closing conditions, including the approval of stockholders of Corixa. The proposed transaction was announced April 29, 2005. A special meeting of Corixa stockholders to consider the adoption of the merger agreement will be held on July 12, 2005, at 1:00 p.m., local time, at Corixa's corporate headquarters. Corixa and GSK expect to complete the transaction as quickly as possible after the special meeting and after all the conditions to the transaction are satisfied or waived. A definitive proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. with respect to the special meeting was filed with the Securities and Exchange Commission on June 2, 2005 and mailed to stockholders on or about June 7, 2005. About Corixa and Forward Looking Statements Corixa is a biopharmaceutical company developing vaccine vaccine Preparation containing either killed or weakened live microorganisms or their toxins, introduced by mouth, by injection, or by nasal spray to stimulate production of antibodies against an infectious agent. adjuvants and immunology immunology, branch of medicine that studies the response of organisms to foreign substances, e.g., viruses, bacteria, and bacterial toxins (see immunity). Immunologists study the tissues and organs of the immune system (bone marrow, spleen, tonsils, thymus, lymphatic based products that manage human diseases. Corixa's products are currently in multiple clinical development programs, including several that have advanced to and through late stage clinical trials. The company partners with numerous developers and marketers of pharmaceuticals, targeting products that are Powered by Corixa(TM) technology with the goal of making its potential products available to patients around the world. Corixa was founded in 1994 and is headquartered in Seattle, with additional operations in Hamilton, Montana Hamilton is a city in Ravalli County, Montana, United States. The population was 3,705 at the 2000 census. It is the county seat of Ravalli CountyGR6. History Hamilton was founded by copper king Marcus Daly in the late 19th century. . For more information, please visit Corixa's Web site at www.corixa.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including statements regarding the anticipated closing of the acquisition of Corixa by GSK. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made. They are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Factors that could affect Corixa's actual results include, but are not limited to, the risk that the acquisition by GSK does not close as a result of a failure to satisfy the closing conditions or otherwise and the "Factors Affecting Our Operating Results, Our Business and Our Stock Price," described in Corixa's Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2005, copies of which are available from the company's investor relations Investor relations The process by which the corporation communicates with its investors. department. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. About GSK and Cautionary Statement Regarding Forward Looking Statements GlaxoSmithKline -- one of the world's leading research-based pharmaceutical and healthcare companies -- is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For company information including a copy of this announcement and details of the company's updated product development pipeline, visit GSK at www.gsk.com Under the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the US Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, GSK cautions investors that any forward-looking statements or projections made by the company, including those made in this Announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Factors that may affect the Group's operations are described under 'Risk Factors' in the Operating and Financial Review and Prospects in the company's Annual Report 2004. Additional Information About the Proposed Acquisition and Where to Find It Corixa has filed a definitive proxy statement in connection with the proposed transaction, which was mailed to stockholders on or about June 7, 2005. Corixa urges investors and security holders to read the definitive proxy statement and any other relevant documents filed with the SEC because they contain important information about Corixa and the proposed transaction. Investors and security holders can obtain these documents free of charge at the website maintained by the SEC at www.sec.gov. Additionally, the definitive proxy statement and other documents filed with the SEC by Corixa are available free of charge on Corixa's website at www.corixa.com. Documents on Corixa's website are not a part of the filing. The definitive proxy statement and other relevant documents may also be obtained free of charge by contacting Georgeson Shareholder Communications, Inc. at 866-781-5469. Corixa's directors and executive officers may be deemed to be participants in the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of proxies from the stockholders of Corixa in connection with the transaction. A description of certain of the interests of directors and executive officers of Corixa is set forth in the definitive proxy statement. |
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