For further information, please contact:
Dr Kim Tan, Non-Executive Chairman
Tel: +44 (0)468 613346
David Dible/Nikul Odedra, HCC.De Facto Group
Tel: +44 (0)20 7496 3300
West LB Panmure:
Ronald Openshaw, Executive Director, Life Sciences Group
Tel: +44 (0)20 7860 3670
INITIAL PUBLIC OFFERING
Second Generation Transgenics Company to list on AIM
June 19, 2000 - London TranXenoGen, Inc. ("TranXenoGen" or the "Company") today announces that it proposes to list its shares on the Alternative Investment Market (AIM) of the London Stock Exchange and to raise finance by way of a placing of its shares of common stock. The funds raised will be used to develop the Companys technology and bring its lead products through the critical stages of their development and into production. TranXenoGen plans to complete the flotation on AIM prior to the summer break. WestLB Panmure Limited will be acting as Nominated Advisor and Nominated Broker to TranXenoGen.
TranXenoGen plans to establish itself as a leading protein drug manufacturing company, using its proprietary second-generation transgenic technology. TranXenoGens novel technology is designed to offer improved efficiency in the manufacture of important therapeutic proteins, including monoclonal antibodies, in the egg whites of transgenic chickens. TranXenoGen believes that its technology has the potential to offer several advantages, compared to existing methods, in the production of complex proteins in terms of overall cost, quality, volume and speed.
TranXenoGen believes that its technology may have broad applicability to a number of therapeutic proteins. The Company is initially developing, insulin, human serum albumin, calcitonin and human growth hormone, and is considering certain monoclonal antibodies as candidates for manufacture in collaboration with pharmaceutical partners.
TranXenoGens Non Executive Chairman is Dr Kim Tan, the founder of KS Biomedix Holdings Plc. The Company has assembled a team of some of the most experienced research scientists in the transgenics field including Dr Karl Ebert and Paul DiTullio. Steve Parkinson, the President and CEO of TranXenoGen, has been actively involved in the commercialisation of transgenics technology over most of the last decade having worked for PPL Therapeutics and Genzyme Transgenics.
TranXenoGen is based in Shrewsbury, MA, USA.
This press announcement, for which TranXenoGen, Inc. is responsible, has
been approved by WestLB Panmure Limited solely for the purposes of Section 57 of the Financial Services Act 1986. It does not constitute an offer or invitation to purchase any securities. WestLB Panmure Limited is acting exclusively for TranXenoGen, Inc. in relation to the proposals set out in this press announcement. WestLB Panmure Limited is not acting for, and will not be responsible to, any person other than TranXenoGen, Inc. for providing the protections afforded to customers of WestLB Panmure Limited or for advising any other person on the contents of this document or any matters referred to herein.
TranXenoGen, Inc. has not registered any of its outstanding shares ("Shares"), of any class, under the U.S. Securities Act of 1933, as amended (the "Securities Act") and its Shares may not be offered, sold, pledged or otherwise transferred except (1) in an offshore transaction meeting the requirements of Rule 903 or Rule 904 of Regulation S under the Securities Act, (2) pursuant to an effective registration statement under the Securities Act, or (3) pursuant to an available exemption from the registration requirements of the Securities Act, in each case in accordance with all applicable securities laws. Hedging transactions involving the common stock of the Company may not be conducted unless in compliance with the Securities Act.