MONTREAL, QUEBEC--(Marketwire - May 7, 2010) - A5 Labs today announced that it has signed a letter of intent to acquire contract research (CRO) assets and a novel interferon production technology from Vida Pharma, also based in Montreal, Canada. The all share transaction is expected to close on or before June 15, 2010.
The CRO assets include all equipment and fixtures (tangible) and all intellectual properties including analytical methods, laboratory information management system, standard operating procedures and list of customers.
The interferon production technology includes all know how and data from previous clinical trials related to the production of gamma interferon.
"We are very pleased to begin the process of acquisition of these assets. Our strategic vision is to use the CRO assets to create a research based profit center and to leverage that internal core competence to develop and commercialize novel biotechnology products," said Dr. Richard Azani, President and CEO.
About A5 Labs:
A5 labs is a contract research based organization servicing the pharmaceutical and biotechnology companies in North America. The company utilizes its research capabilities to license and acquire novel biotechnology products for development and commercialization.
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