NEW YORK, April 11, 2006 (PRIMEZONE) -- Bioaccelerate Holdings, Inc. today announces that its previously-announced proposed name change becomes effective today, and the new name is Gardant Pharmaceuticals, Inc. (OTCBB:GRDP). The Company's new ticker symbol is "GRDP" and is effective today.
As previously announced, the company intends to spin off a number of its operating subsidiaries to the Company's shareholders in order to enhance the independent identities of, and investor interest in, those subsidiaries and give the Company more clarity in its ongoing business activities. The record date for the first distribution in Accura Pharma is April 21, 2006. Following the separation of these subsidiaries, Gardant Pharmaceuticals also is expected to benefit from its increased focus on the development of the remaining pharmaceutical compounds of Gardant and its remaining subsidiaries. Over the coming months the Company intends to dividend to our shareholders, on a pro rata basis, our holdings in two oncology-focused companies, a dermatology company, a speciality pharma company, and an anti-viral company.
About Gardant Pharmaceuticals Inc.
Gardant Pharmaceuticals, Inc. (OTCBB:GRDP) is a pharmaceutical development organization ("PDO") that seeks to acquire, develop and commercialize novel pharmaceutical compounds in an efficient, cost-effective way. Gardant seeks to use its academic, industry and capital market relationships to expedite drug development and raise capital to create and fund its subsidiary companies.
Gardant conducts its business directly and through its subsidiaries. Gardant's strategy relies on its development network for research, clinical development and project management to guide early-stage compounds from the discovery process through to Phase II/III development where incremental value can be created. Gardant is listed on the Over-The-Counter Bulletin Board under the symbol OTCBB:GRDP.
Gardant Pharmaceuticals Safe Harbor Statement
Certain statements contained herein are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Because these statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Specifically, factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to: risks associated with pre-clinical and clinical developments in the biopharmaceutical industry in general and in Gardant is compounds under development in particular; the potential failure of Gardant's compounds under development to prove safe and effective for treatment of disease; uncertainties inherent in the early stage of Gardant's compounds under development; failure to successfully implement or complete clinical trials; failure to receive marketing clearance from regulatory agencies for our compounds under development; acquisitions, divestitures, mergers, licenses or strategic initiatives that change Gardant's business, structure or projections; the development of competing products; uncertainties related to Gardant's dependence on third parties and partners; and those risks described in the filings with the SEC, all of which are under Gardant's prior name Mobile Design Concepts, Inc. Gardant disclaims any obligation to update these forward-looking statements.