PLANTATION, Fla., Jan. 19 /PRNewswire-FirstCall/ -- Viragen, Inc. (AMEX:VRA) today announced that the Company has entered into an investment banking agreement, appointing Janney Montgomery Scott LLC ("Janney") as its financial advisor. Janney will act on Viragen's behalf to evaluate strategic alternatives, including obtaining additional financing and exploring potential merger & acquisition opportunities to enhance stockholder value.
About Viragen, Inc.: With global operations in the U.S., Scotland and Sweden, Viragen is a biotechnology company engaged in the research, development, manufacture and commercialization of pharmaceutical proteins for the treatment of viral diseases and cancers. Our product portfolio includes: Multiferon(R) (multi- subtype, natural human alpha interferon) targeting a broad range of infectious and malignant diseases; and humanized monoclonal antibodies targeting specific antigens over-expressed on many types of cancers. We are also pioneering the development of Avian Transgenic Technology, with the renowned Roslin Institute, as a revolutionary manufacturing platform for the large-scale, efficient and economical production of human therapeutic proteins and antibodies.
About Janney Montgomery Scott: Janney Montgomery Scott LLC is a major regional full-service investment bank headquartered in Philadelphia, serving a national client base of emerging growth and middle market companies. Janney's Healthcare Investment Banking Group assists life sciences clients in all aspects of raising capital through private placements and public offerings and also provides strategic advisory services in areas such as mergers & acquisitions, fairness opinions and partnering discussions. Janney traces its roots to 1832 and holds the second oldest seat on the New York Stock Exchange. Janney is a subsidiary of the Penn Mutual Life Insurance Company, one of the 15 largest mutual insurance companies in the nation, with assets of more than $13 billion.
For more information, please visit: http://www.viragen.com/ Viragen, Inc. Corporate Contact:
Douglas Calder, Director of Communications
Phone: (954) 233-8746; Fax: (954) 233-1414
E-mail: The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "expect," "potential," "suggests," "may," "should," "could" or similar expressions. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations regarding future research, development and/or commercial results could be affected by, among other things, uncertainties relating to clinical trials and product development; availability of future financing; unexpected regulatory delays or government regulation generally; the Company's ability to obtain or maintain patent and other proprietary intellectual property protection; and competition in general. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. First Call Analyst: FCMN Contact: dcalder@viragen.com http://www.newscom.com/cgi-bin/prnh/20010426/HSTH018LOGO-b http://photoarchive.ap.org/ DATASOURCE: Viragen, Inc.
CONTACT: Douglas Calder, Director of Communications of Viragen, Inc., +1-954-233-8746, or fax, +1-954-233-1414, or Web site: http://www.viragen.com/
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