HUDDINGE, Sweden, May 07, 2003 (PRIMEZONE) -- Tripep AB (publ) is acquiring the vaccine development company, Isconova AB. As part of its strategy of promoting consolidation with partners in the field of microbiology and immunology, Tripep has made a bid for Isconova AB. The Board of Directors and owners of more than 90% of the shares in Isconova decided unanimously at the last Board meeting to recommend that shareholders should accept Tripep's bid. The deal will be concluded following customary due diligence. Isconova will then become a subsidiary that is wholly owned by Tripep.
Isconova AB is based in Uppsala and is active in the development of veterinary and human vaccines. Isconova has developed several veterinary vaccines that are now in clinical use. They are based on the company's patented Iscom and IscoMatrix technologies. Isconova has licensed applications of its Iscom and IscoMatrix technologies to leading vaccine companies working in the veterinary medicine market. Professor Bror Morein, one of the founders of Isconova, was contacted together with Isconova recently by a Chinese university to discuss the possibilities of collaborating on the development of a vaccine against Severe Acute Respiratory Syndrome, otherwise known to the public as SARS.
Tripep's and Isconova's vaccine researchers consider that the two companies' specialised fields of vaccine expertise complement each other well and that they together constitute an excellent platform for the development of vaccines for human and veterinary applications.
For more information, please contact: Anders Vahlne, Head of Research at Tripep AB tel.: +46 70 928 05 28 Bror Morein, Head of Research at Isconova AB tel.: +46 70 552 18 59 Johan Ihre, President of Tripep AB tel.: +46 8-449 84 82, +46 70 733 44 25 Bengt Falk, President of Isconova AB tel.: +46 70 302 22 54 Tripep AB (publ) Halsovagen 7 SE-141 57 Huddinge Tel.: +46 8-449 84 80 Fax: +46 8-449 84 81 www.tripep.se
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