Immune Network Ltd. (IMMFF) Announces Intent to Acquire Oral Vaccine Technology Platform from Immunitor
VANCOUVER, B.C., Sept. 16, 2010 (GLOBE NEWSWIRE) -- Immune Network Ltd. (Pink Sheets:IMMFF - News), advises the Company has a plan to acquire patented oral vaccine technology developed and clinically validated by the privately-held Immunitor group of companies and affiliates. As a pre-condition of this acquisition, the Company will need to update its regulatory filings and deal with outstanding accounting and legal issues, in addition to full due-diligence analysis of the respective companies.
Immunitor's technology is based on decades of research and is positioned to forever change the way vaccines are made and administered. The acquisition will give Immune Network an exciting opportunity to commercialize existing oral vaccines for high-impact infectious diseases such as influenza, tuberculosis, hepatitis and HIV. The acquisition will additionally give Immune Network access to Immunitor's existing manufactured line of orally administered, broad-spectrum, prophylactic and therapeutic tableted vaccines designed to protect against microbial and fungal infections and for immunotherapy of non-infectious diseases such as cancer and autoimmune and/or metabolic disorders comprising allergy, diabetes, obesity and atherosclerosis. Immunitor's advanced innovative technology can dramatically shorten vaccine production timelines and offers tremendous potential to improve and protect human health globally.
Websites for Immune Network Ltd. (www.immune-network.com) and for Immunitor (www.immunitor.com) are currently being updated and expanded. The Immunitor site will provide access to the many scientific and clinical publications about the technology. For this acquisition to proceed, funding will be needed for the prerequisite activities in the Company and there can be no assurances of the availability or terms of such funding. Further details of the proposed transaction, and changes in the composition of the Board of Directors of the Company, will be made public in press releases and on the websites pending further progress with due-diligence assessment of both companies and final terms being established.
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Safe Harbor Statement
The information in this release, other than historical information, may be considered forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995. Projection and other forward-looking statements and management expectations regarding future events and/or financial performance of the Company -- although given in good faith -- are inherently uncertain and actual events and/or results may differ materially.