MONTREAL, April 10, 2006 (PRIMEZONE) -- Viropro Inc. ("Viropro" or "The Company") (OTCBB:VPRO) has filed its annual financial report with the SEC, thereby terminating the temporary change of the ticker symbol; the change had absolutely no impact on the current operations of the Company.
Dr. Jean-Marie Dupuy, Viropro's CEO, explained: "We are pleased to announce that delays caused by changes in the administration of the Company have been dealt with rapidly." He added: "I have been a member of the new management team since November 19, 2005 and together we have carried out a complete financial restructuring of the company that addresses the loss of $2.9 million from December, 2004 through November, 2005 and permits us to anticipate vastly improved results for the current year."
Immediately following its set up in November, 2005, the new administration at Viropro undertook an in depth review of the overall management of the former administration in the framework of its Due Diligence. The current management intends to submit, if applicable, its recommendations to the Board of Directors.
Viropro has been relaunched in the right direction and the concerted efforts of the new team will rapidly produce the desired results that are an integral part of the overall company objectives.
About Viropro Inc.
Viropro Inc. operates mainly through its subsidiary Viropro International Inc. with its head office in Montreal, Canada. Viropro is a company specialized in marketing its' know how and expertise in technology transfer for industrial production of therapeutic proteins. Its primary objective is to assist pharmaceutical companies in regions of the globe with unmet medical needs such as South America, Asia and Africa. Viropro develops and sells therapeutic proteins at a competitive price. Beside today's announcement, Viropro has concluded other strategic alliances with renowned scientific and business partners, both at the national and international levels. Viropro relies on a business model built to generate short and medium term recurrent revenues while increasing the value of stock for both the company and its shareholders.
For more information on Viropro Inc., please visit our website on www.viropro.com
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 harbour 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.