MONTREAL, April 5, 2005 (PRIMEZONE) -- Viropro Pharma, Inc., a subsidiary of Viropro, Inc. (OTCBB:VPRO), announced today the creation of a strategic joint venture with ProteoCell Biotechnologies Inc., a leading bioprocess Montreal-based company specializing in the scale-up of production processes of recombinant proteins. The joint venture is named Viropro-ProteoCell.
This JV combines the powerful strategic forces in the areas of technical and scientific expertise with a revenue-driven business model. Viropro Pharma will recognize revenue through its majority equity interest.
Viropro-ProteoCell will deliver turn-key biopharmaceutical projects to second and third world markets that will provide local manufacturing capabilities with recombinant biotherapeutics. Viropro Pharma is partnering with ProteoCell Biotechnologies to implement its pro-active business model based on vertical integration.
The Viropro-ProteoCell joint-venture will adopt a step-by-step approach for the technological and scientific transfer and will be involved in each aspect of the project. The business model of the JV collects revenues and royalties at each stage of the process, from the feasibility and profitability study, to final share participation and technical support extending beyond the project's implementation.
Viropro Pharma has already identified five large-scale projects, one of which should be signed before the end of 2005 in Brazil.
Mr. Richard Lee, President of Viropro, Inc. announced, "I am very pleased to have entered into this strategic alliance and consider it a real business synergy thanks to the compatibility and complementarities of each partners' forces. With such specialized capabilities, ProteoCell Biotechnologies brings the expertise and capacity to scale-up Viropro Pharma's patented production technologies of high quality recombinant molecules."
Mr. Imad Nasrallah, ProteoCell's President added, "With its unique business approach, Viropro Pharma represents an ideal partner to build a solid, revenue-driven partnership and dramatically quicken the pace to market for our technologies while offering the synergies our clients are looking for."
About Viropro, Inc.
Viropro, Inc. (OTCBB:VPRO) is rapidly establishing a growth portfolio in the Life Sciences market through strategic alliances and revenue-producing acquisitions with the potential for continued shareholder value.
About ProteoCell Biotechnologies Inc.
ProteoCell Biotechnologies Inc. is a privately-held bioprocess company based in Laval, Quebec, Canada. Working in collaboration with leading biotechnology companies, ProteoCell develops leading edge bioprocess platforms for the production of recombinant protein biotherapeutics.
Viropro, Inc.'s Safe Harbor Statement
Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements." Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could" or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.