Viridax Corporation
Viridax meets prospective finncial partners in Germany
Viridax Corporation / Key word(s): Miscellaneous 17.11.2010 08:30 --------------------------------------------------------------------------- November 17, 2010 - Viridax Corporation (FSE:VRC) ('Viridax' or the 'Company') is pleased to report that the Company has entered into negotiations with a number of prospective financial partners for the purpose of securing the working capital required to complete development of the Company's bacteriophage, genetically-selected versions of naturally-occurring viruses that provide an effective and efficient clinical process for the treatment of diseases characterized by antibiotic-resistant bacteria such as staph infections and tuberculosis. Bacteriophage are viruses that are specifically developed for the purpose of parasitizing and killing bacteria. Richard C. Honour, PhD. and Dr. Warren Wheeler will be in Frankfurt for the German Equity Forum commencing on November 22nd and, more specifically, to meet with a number of prospective institutional and pharmaceutical industry-based financial partners. With respect to the identification of a long term financial partner Dr. Honour, the Company's President and C.E.O. commented that: 'Given the likelihood that we will license the Viridax intellectual property rights to a major pharmaceutical company after the completion of the clinical testing associated with Phase II approval at the F.D.A., it is in the best interest of our shareholders to take advantage of our presence in Germany to pursue negotiations with some of the people with whom we have maintained a dialogue. We intend to provide a status report on our development of the bacteriophage, chart a course forward to a marketing model and negotiate the best financing deal possible consistent with our primary objective of marketing the Company's rights on a basis that will significantly enhance shareholder values. We have an opportunity; we must seize it.' About Viridax Corporation Viridax Corporation was formed to develop new products for the treatment of respiratory and systemic infections incited by Staphylococcus aureus (S. aureus) and other Staphylococcal species. The management of Viridax is primarily focused on providing safe, effective and affordable treatment alternatives to conventional antibiotics, and to demonstrate the clinical utility of the Viridax products by substantially reducing the incidence, prevalence, morbidity and mortality of targeted bacterial infections in both community and hospital settings. The Company plans to develop products that are less toxic and more efficacious than conventional antibiotics, and at lower cost, but that will target antibiotic-resistant bacteria, thus providing access to extensive global markets. Management intends to manufacture and evaluate the initial S. aureus bacteriophage product in compliance with US Food and Drug Administration (FDA) guidelines to assure approval by US and international regulatory authorities. On behalf of the Board of Directors Viridax Corporation Richard C. Honour, PhD. President and C.E.O. FORWARD-LOOKING STATEMENTS Statements in this document which are not purely historical are 'forward-looking statements', including any statements regarding the intent, belief or current expectations of Viridax Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include, among others, material changes in the global capital markets that may impact negatively on the Company's ability to secure the working capital required to complete the development and production of its pharmaceutical products on a timely basis, the competitive nature of the biopharmaceutical industry and the ability of the Company to attract the personnel required to efficiently execute the Company's business plan. Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as updates may be required by applicable law. Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements. Although the Company believes that the plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification under the applicable securities laws of any such jurisdiction. The Company has filed a prospectus with the Bundesanstalt fur Finanzdienstleistungsaufsicht which it intends to amend in order to reflect the material changes associated with the recent merger with Dynamic Global Recycling Co. Ltd. Richard C. Honour, PhD. President and C.E.O. Tel.(425) 772-1473 Email: rhono@viridax.com Website: www.viridax.com 17.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 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