Senetek PLC Offer for IGI Expires
NAPA, Calif., Feb. 28 /PRNewswire-FirstCall/ -- Senetek PLC (OTC:SNTKY)
(BULLETIN BOARD: SNTKY) , http://www.senetekplc.com/, today announced that its
January 14th, 2005 offer to IGI, Inc. (AMEX:IG) for a "merger of equals" of the
two companies, expired today but that discussions continue. As previously
announced, the offer was conditional upon Senetek's satisfactory completion of
its due diligence review.
* * * * Senetek is a life sciences-driven product development and licensing company
focused on the high growth market for products primarily addressing age-related
conditions. Senetek's patented compound Kinetin is a naturally occurring
cytokinin that has proven effective in improving the appearance of aging skin
with virtually none of the side effects associated with acid-based active
ingredients. Senetek has licensed Kinetin to leading global and regional
dermatological and skin care marketers including Valeant Pharmaceuticals, The
Body Shop and Revlon, and has licensed its Invicorp erectile dysfunction
technology to Ardana Bioscience Ltd. for Europe, with rights to additional
markets. Senetek's researchers at the University of Aarhus, Denmark, also are
collaborating with the Institute of Experimental Botany, Prague, and with
Beiersdorf AG, Hamburg, to identify and evaluate additional new biologically
active compounds for the high growth skin care field.
Senetek PLC Investor Relations Contact:
1-707-226-3900 ext. 102
E-mail: Safe Harbor Statement
This news release contains statements that may be considered "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements by their nature involve substantial uncertainty,
and actual results may differ materially from those that might be suggested by
such statements. Important factors identified by the companies that they
believe could result in such material differences are described in their
respective Annual Reports on Form 10-K for the year 2003 and subsequent
Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. However, the
companies necessarily can give no assurance that they have identified or will
identify all of the factors that may result in any particular forward-looking
statement materially differing from actual results, and neither assumes any
obligation to correct or update any forward-looking statements which may prove
to be inaccurate, whether as a result of new information, future events or
otherwise. DATASOURCE: Senetek PLC CONTACT: Senetek PLC Investor Relations, +1-707-226-3900, ext. 102, Web site: http://www.senetekplc.com/
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