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VIMRx Announces Nasdaq National Market Listing Effective Dec. 31, 1996.



WILMINGTON, Del.--(BUSINESS WIRE)--Dec. 30, 1996--VIMRx Pharmaceuticals Inc. (Nasdaq SmallCap: VMRX) announced today that it will move from the Nasdaq SmallCap Market to the Nasdaq National Market System, effective Dec. 31, 1996.

"We believe that moving to the National Market System will broaden investor access and increase trading flexibility for VIMRx shares," said Richard L. Dunning, President and Chief Executive Officer of VIMRx. All National Market stocks are technically eligible to trade on margin, although individual brokerages may impose minimum share price levels. "It is also an acknowledgement of the strong financial position we have achieved as a result of recent warrant redemption and private placement activities. In addition, we hope our shareholders will all recognize the extent to which the national listing is a positive step forward for the company, and in line with the progress we have demonstrated over the past several months."

VIMRx, based in Wilmington, DE, is currently developing two technology platforms: chemically synthesized syn·the·sized  
adj.
1. Relating to or being an instrument whose sound is modified or augmented by a synthesizer.

2. Relating to or being compositions or a composition performed on synthesizers or synthesized instruments.
 hypericin hy·per·i·cin
n.
A drug, produced synthetically or as an extract of Saint John's wort, used as an antidepressant and antiviral agent.


hypericin
, VIMRxyn(R), and through its ownership position in Innovir Laboratories, Inc., catalytically active Oligozymes. VIMRxyn(R) is currently in clinical development for the treatment of HIV HIV (Human Immunodeficiency Virus), either of two closely related retroviruses that invade T-helper lymphocytes and are responsible for AIDS. There are two types of HIV: HIV-1 and HIV-2. HIV-1 is responsible for the vast majority of AIDS in the United States.  and brain cancer and is in pre-clinical development Pre-clinical development is a stage in the development of a new drug that begins before clinical trials (testing in humans) can begin, and during which important safety and pharmacology data is collected.  for the treatment of hepatitis C Hepatitis C Definition

Hepatitis C is a form of liver inflammation that causes primarily a long-lasting (chronic) disease. Acute (newly developed) hepatitis C is rarely observed as the early disease is generally quite mild.
 and the sterilization sterilization

Any surgical procedure intended to end fertility permanently (see contraception). Such operations remove or interrupt the anatomical pathways through which the cells involved in fertilization travel (see reproductive system).
 of blood. The Oligozyme technology being developed by VIMRx through Innovir has potential uses both in attacking diseases at the genetic level, and as a broadly-applicable tool in pharmaceutical research to aid in drug target identification and validation. VIMRx also intends to be active in identifying and acquiring additional technologies and products.

NOTE TO INVESTORS AND EDITORS: VIMRx's press releases are available on the Internet through BusinessWire's web site at http://www.businesswire.com/cnn/vmrx.htm. The releases also are available at no charge through BusinessWire's fax-on-demand service at 800-411-8792.

CONTACT: Walter Montgomery or John Quirk quirk  
n.
1. A peculiarity of behavior; an idiosyncrasy: "Every man had his own quirks and twists" Harriet Beecher Stowe.

2.
 

(212) 484-6721
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Publication:Business Wire
Date:Dec 30, 1996
Words:302
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