MONTREAL, May 24, 2007 (PRIME NEWSWIRE) -- Viropro, Inc. (OTCBB:VPRO) ("Viropro") announced the closing of the US$1.3 Million debenture opened on March 2, 2006. The debenture was payable in five tranches over a year period.
"The fact that the last tranches of the debenture have been cashed during a highly volatile stock price period, clearly demonstrates the value of our low cost business model and the true performance of our business development program," stated Dr. Jean-Marie Dupuy, President and CEO of Viropro. "Viropro signed no less that six important agreements during that period and more should be announced shortly," added Mr. Dupuy.
Some directors and officers of the company as well as the external legal counsel were part of the group who invested in the US$1.3 million debenture over that period. Dr. Jean-Marie Dupuy recently made an additional investment of $45,000 to close the said debenture, thus carrying his participation in the debenture to $85,000.
About Viropro, Inc.
Viropro, Inc. conducts operations through its subsidiary Viropro International Inc., whose head office is located in Montreal, Canada. Viropro is a rapidly expanding biopharmaceutical company specializing in the transfer of its technologies for industrial production of biogeneric therapeutic proteins, excluding therapeutic vaccines, for the treatment of various diseases including cancer, diabetes, hepatitis or multiple sclerosis. The company's principal objective is to bring about the transfer of technology to pharmaceutical companies in emerging markets with unmet medical needs such as in South America, Asia and Africa. To expand its range of expertise in biopharmaceuticals excluding therapeutic vaccines, Viropro has concluded strategic alliances with various scientific and business partners renowned in national and international spheres. Viropro's business model rests on a strategy aimed at generating recurrent short and long-term revenues, all while maximizing the value of assets and profits of its shareholders.
For more information on Viropro, Inc., please visit our website on www.viropro.com
Viropro, Inc. 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.