AutoImmune Inc. Announces Shareholder Approval of Plan of Complete Liquidation and Dissolution

PASADENA, Calif., May 14 /PRNewswire-FirstCall/ -- AutoImmune Inc. (Pink Sheets: AIMM) today announced that its stockholders have voted in favor of the company's voluntary dissolution pursuant to a Plan of Complete Liquidation and Dissolution at a special meeting of stockholders held on May 11, 2010.  Stockholders voted overwhelmingly in favor of the dissolution of the company pursuant to the Plan of Complete Liquidation and Dissolution, with the proposal receiving an affirmative vote from approximately 99% of the votes cast at the special meeting of stockholders.  AutoImmune's business activities will now be limited to those necessary to preserve the value of its assets, wind up its business and affairs, and distribute its assets in accordance with the Plan of Complete Liquidation and Dissolution.  AutoImmune intends to file a Certificate of Dissolution with the Secretary of State of Delaware and to commence the elective dissolution process under Delaware law.

About AutoImmune Inc.

AutoImmune is a biopharmaceutical company involved in the development of treatments for autoimmune and cell-mediated inflammatory diseases and conditions.

Website: http://www.autoimmuneinc.com  

SOURCE AutoImmune Inc.

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