Almiria to distribute Biomira shares.
Included in the distribution are 3,732,166 of such shares which were issued to Almiria pursuant to the previously-announced amalgamation of Bioalta Inc. and a subsidiary of Biomira. Today's distribution does not affect the total outstanding common shares of Biomira which remain at 22,522,537 shares.
"We are pleased to broaden our institutional shareholder base by welcoming some of Canada's largest pension funds and institutional investors as direct shareholders of Biomira, without diluting our existing shareholder base," said Biomira's President and CEO, Alex McPherson, M.D., Ph.D.
"Almiria is a venture capital corporation and the distribution of Biomira shares is a normal activity for our company and follows a pattern established with other of Almiria's investments. This transaction does not alter our commitment to Biomira.
"We are encouraged by the progress Biomira is making as it moves its products towards commercialization and we intend to continue to support Biomira financially as it moves forward," said Almiria's President, Eric E. Baker. Mr. Baker will continue as Chairman of Biomira and Mr. Robert Mee, Vice President of Almiria Capital Corp., will continue as a Director of Biomira.
Biomira is a biotechnology company developing an integrated line of products for disease management of cancer. Diagnostic products are TRUQUANT(R) radioimmunoassays, which are designed to assist in early diagnosis and Tru-Scint(R) radioimmunoimaging compounds, which identify locoregional disease.
Therapeutics products range from OVAREX(TM) therapeutic antibody kits being investigated for use in treatment of ovarian cancer, through to THERATOPE(R) therapeutic vaccines which are being investigated for use in the treatment of breast, ovarian and colorectal cancers.
CONTACT: Biomira Inc.
Jim Devaney, 403/490-2806
Almiria Capital Corp.
Robert Mee, 514/631-2682
INDUSTRY KEYWORD: MEDICINE MERGERS/ACQ REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or
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|Date:||Feb 10, 1995|
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