SAN GERONIMO, Calif., Jan. 19, 2012 (GLOBE NEWSWIRE) -- Virogen Inc. (OTC:VRNI), a holding company specializing in data security and encryption technology, today announced that the company is in discussions to license its proprietary technology to an investment group that will focus on marketing solutions within the network security space worldwide.
The investment group and the proposed management team have high level contacts in banking and finance and primary industries worldwide and plans to form an entity based on the suite of tools developed and marketed by the company's wholly owned subsidiary, Tiger Team Technologies "T3" that focus on enterprise-level data encryption and tracking solutions. T3 expects to conclude a licensing agreement by the end of the first quarter and realize significant revenue streams from the agreement by the fourth quarter 2012. Specific terms of the licensing agreement are yet to be determined.
Virogen's Chief Executive Officer, Paul Hogan, commented, "We are very excited to begin discussions for the licensing of our proprietary technology abroad. This opportunity will afford the company a cost effective way to enter markets throughout Europe and the Middle East and become a dominant player in the network security space in these regions. We expect this deal to be significantly accretive to the top and bottom lines of our business."
About Virogen, Inc.
Virogen, Inc. is a technology holding company. The company's wholly owned subsidiary, Tiger Team Technologies "T3," has developed a very unique suite of copyrighted tools to address the network and database security needs of enterprise level companies and corporations. T3's risk management offering provides an unprecedented level of security and liability protection, positioning it as the only company with a comprehensive solution to data security breaches for its clients. T3's primary markets include medical service providers, financial services firms, brokerages and currency transaction platforms, consumer credit card companies, banking entities, retailers, defense and government related operations.
Forward-Looking Statements:
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any 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. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions the occurrence of unanticipated events or changes to future operating results.