Inex Pharmaceuticals Announces Appeal Date for Spin-out of Tekmira Pharmaceuticals
18-Jan-2007
Inex Pharmaceuticals Corporation announced that on February 6, 2007 the British Columbia Court of Appeal will hear Protiva Biotherapeutics, Inc. ("Protiva") appeal of the Supreme Court of British Columbia's ruling that approved the INEX Plan of Arrangement to transfer all of the Company's transferable assets and liabilities to a spin-out Company, Tekmira Pharmaceuticals Corporation ("Tekmira"). The Supreme Court of British Columbia approved the Plan of Arrangement on November 24, 2006.
INEX believes the original decision of the Supreme Court of British Columbia was correct and the Company will continue to defend its position. The completion of the Tekmira spin-out is now expected to be completed by the end of February 2007.
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