NEW YORK--(BUSINESS WIRE)-- Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), announced that it has acted as financial advisor to Biocontrol Limited. (the “Company” or “Biocontrol”), a clinical development stage biotechnology company that is focused on the anti-infective space, in connection with its recently completed acquisition by Targeted Genetics Corporation (“Targeted Genetics”), (PINKSHEETS:TGEN.PK).
In line with the terms of the acquisition, Targeted Genetics will issue 22,586,073 shares of its common stock to the former shareholders of Biocontrol, with the result being that Biocontrol’s former shareholders will own approximately 50% of the outstanding equity securities of Targeted Genetics. As a condition to closing the acquisition, Biocontrol raised approximately $310,000 in working capital for use by Targeted Genetics. The rationale for the combination of the two companies is the development of Biocontrol’s science and programs and the capitalization of Targeted Genetics’ gene therapy assets.
About Biocontrol Limited
Biocontrol is a clinical development stage biotechnology company that is focused on the anti-infective space. Its primary focus is the development of bacteriophages to treat Gram Negative bacterial infections, such as Pseudomonas aeruginosa, which is the leading cause of death among people with Cystic Fibrosis. Biocontrol is seeking to develop a range of therapeutic products for the treatment of very highly resistant bacterial infections. For more information, the website is: http://www.Biocontrol-ltd.com.
About Targeted Genetics Corporation
Targeted Genetics Corporation is a biotechnology company committed to the development and commercialization of innovative therapies for the prevention and treatment of diseases with significant unmet medical need. To learn more about Targeted Genetics, visit Targeted Genetics’ website at http://www.targetedgenetics.com.
About Rodman & Renshaw
Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) is a holding company with a number of direct and indirect subsidiaries, including Rodman & Renshaw, LLC.
Rodman & Renshaw is a full-service investment bank dedicated to providing corporate finance, strategic advisory and related services to public and private companies across multiple sectors and regions. Rodman also provides research and sales and trading services to institutional investors. Rodman is the leader in the PIPE (private investment in public equity) and RD (registered direct offering) transaction markets. According to Sagient Research Systems, Rodman has been ranked the #1 Placement Agent in terms of the aggregate number of PIPE and RD financing transactions completed every year since 2005.
For more information visit Rodman & Renshaw on the Internet at www.rodm.com.
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Targeted Genetics Corporation’s Safe Harbor Statement
This press release contains certain forward-looking statements that involve known and unknown risks, delays, uncertainties and other factors not under the control of the Targeted Genetics. Targeted Genetics’ actual results, performance or achievements may differ materially from those conveyed in such forward-looking statements. The factors that could cause actual results, performance or achievements to differ from the forward-looking statements include the possibility that the expected benefits from the acquisition will not be realized, or will not be realized within the anticipated time period; the risk that Targeted Genetics’ and Biocontrol's businesses will not be integrated successfully; the risk that Targeted Genetics’ current financial resources and future financial resources will be insufficient to enable Targeted Genetics to fund continuing operations; and the risk that Targeted Genetics and its collaborators’ product development efforts will be unsuccessful.
Rodman & Renshaw Investor Relations
Mr. Christopher Chu
Phone: 1-646-284-9400 (ext. 426)
Email: [email protected]
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