SANTA BARBARA, CALIF., Oct. 16, 2014 (GLOBE NEWSWIRE) -- VG Life Sciences Inc. (OTCQB: VGLS) is a biotechnology company focused on developing treatments for patients suffering from autoimmune and infectious diseases.
Company Achieves Key Milestone with Upgrade to OTCQB Marketplace
VG Life Sciences is pleased to announce it has been approved to upgrade from the OTC Pink marketplace to the OTCQB marketplace, effective October 17, 2014. OTCQB is the venture marketplace for entrepreneurial and development stage U.S. and international companies operated by OTC Markets Group. To be eligible for OTCQB, companies must be current in their reporting, meet a minimum bid price test and undergo an annual verification and management certification process.
"In 2014, we placed a major focus on achieving key steps required to reach this significant milestone to the benefit of our current and future shareholders," said John Tynan, President & Chief Executive Officer. "Since February, we have completed prior year audits, filed Form 10 with the SEC and cleared SEC comments, and became a reporting company effective August 19, 2014. The overarching goal has been to bring financial accountability and transparency, and with this upgrade to the OTCQB marketplace, we have achieved that goal. Strategically, the timing of this move fits with the company's developments in research, pre-clinical, and clinical development of its patented drugs. "
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for VG Life Sciences Inc. on www.otcmarkets.com.
About VG Life Sciences Inc.
Santa Barbara, California-based VG Life Sciences Inc. (OTCQB: VGLS), formerly known as Viral Genetics, is a biotechnology company focused on discovering and developing drug therapies for cancer, infectious disease, and inflammatory, autoimmune disorders. VGLS controls over 40 US and international patents and pending patents protecting its exclusive biotech platform technologies. For more information and upcoming events, visit www.vglifesciences.com or find VG Life Sciences Inc. on Facebook, Twitter, and LinkedIn.
Safe Harbor Statement and Forward-Looking Statements
This news release may contain forward-looking statements that involve risks and uncertainties associated with financial projections, milestone timelines, clinical development, regulatory approvals and other risks described by VG Life Sciences from time to time in its periodic reports. None of VG Life Sciences' drug compounds are approved by the US FDA or by any comparable regulatory agencies elsewhere in the world. Therefore, there can be no assurance that the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the forward-looking statements should not be regarded as a representation by VG Life Sciences or any other person that the objectives and plans of VG Life Sciences will be achieved.