Healthcare Industry News: TGF-beta
News Release - January 25, 2007
Resverlogix Hires Financial Advisor to Advance Strategic AlternativesCALGARY, ALBERTA--(Healthcare Sales & Marketing Network)--Jan 25, 2007 -- Resverlogix Corp. ("Resverlogix") (TSX:RVX.TO ) announced today that it has retained UBS Securities to act as the financial advisor to assist the Board of Directors and management in its evaluation of strategic alternatives for the Company.
Donald McCaffrey, President & CEO of Resverlogix, stated, "We have reached our preplanned stage where it is prudent to retain a leading financial advisor in the healthcare sector in order to help us evaluate our alternatives with our NexVas(TM) Plaque Regression franchise. We have always maintained, as part of our overall business strategy, that we will either partner or out right sell this technology at either a preclinical or first administration to man stage." McCaffrey added, "Our goal is to enter into a strategic agreement with a pharmaceutical company whose resources can take our product through clinical trials and into the marketplace."
The evaluation is focused on reviewing what steps should be taken by the Company to secure a strategic agreement regarding the Resverlogix technologies. Resverlogix has not yet set a definitive timetable for completion of its evaluation. There can be no assurances that the evaluation process will result in any specific transaction that will be acceptable to the Company. Resverlogix does not intend to disclose developments regarding its evaluation of strategic alternatives unless either an acceptable acquisition offer is made or until the Board of Directors approves an alternative transaction.
About Resverlogix Corp.
Resverlogix Corp. is a leading biotechnology company in the development of novel therapies for important global medical markets with significant unmet medical needs. The Company's primary focus is to conduct leading research, development and commercialization of novel therapeutics that address the risk of cardiovascular disease (CVD). Through successful research efforts, the Company has expanded its CVD platform to three programs, each addressing different targets for specific commercial markets. NexVas(TM) Plaque Reduction (NexVas PR), is the Company's primary program that targets ApoA-I enhancement via novel small molecules for plaque stabilization and regression. NexVas(TM) Vascular Inflammation (NexVas VI) is the Company's second CVD program, a discovery stage technology focused on molecular targets of vascular inflammation. ReVas(TM) the Company's third CVD program is dedicated to the research and development of therapeutic compounds to be used with medical devices and biomaterials for the local non-systemic treatment of CVD, in particular restenosis. The Company has partnered ReVas(TM) with Medtronic Inc., a world leading medical technology company. The Company's secondary focus is TGF-beta Shield(TM), a program that aims to address the unmet medical needs of burgeoning grievous diseases, such as cancer and fibrosis, with a TGF- Beta inhibitor. Resverlogix is committed to applying the qualities of innovation, integrity and sound business principles in developing novel therapies for the treatment of unmet human diseases. Resverlogix Corp. trades on the Toronto Stock Exchange (TSX:RVX.TO ). For further information, please visit our web site at www.resverlogix.com.
This news release may contain certain forward-looking statements that reflect the current views and/or expectations of Resverlogix Corp. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
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