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Biomira announces plan to change name to Oncothyreon
Biomira announces plan to change name to Oncothyreon.
About this update from Skrr Exploration, Inc.
[{"type":"text","content":"\n\n\n\nEDMONTON, Sept. 27 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) (the\n"Company") today announced that, as part of the Company's previously announced\nplan to reincorporate in the United States, it intends to change its name to\nOncothyreon Inc. The name change will become effective upon shareholder and\ncourt approval of a plan of arrangement, as a result of which Oncothyreon will\nbecome the ultimate parent corporation of a successor corporation of the\ncurrent Biomira and its subsidiaries.\n\n\n"Over the past year, we have successfully executed a strategy to create\nand realize new opportunities to create sustainable value for our company, our\nshareholders and for patients," said Dr. Robert L. Kirkman, President and\nChief Executive Officer of Biomira. "As a result, we have an exciting and\ndiversified clinical pipeline that is advancing steadily. Stimuvax(R) is in a\nglobal Phase 3 trial, PX-12 is in Phase 2, PX-478 is in Phase 1, and we are on\ntrack to file an Investigational New Drug application for PX-866 by year's\nend. Each of our small molecule candidates targets pathways critical to cancer\ncell growth, metastasis and survival in diverse cancer indications. Stimuvax\nholds great promise to harness the power of the immune system to fight\nnon-small cell lung cancer and, potentially, other cancers with significant\nunmet medical need."\n\n\nDr. Kirkman continued, "We are a different company today than we were\njust twelve months ago, and our decision to change our name to Oncothyreon\nreflects that transformation. Oncothyreon is derived from the Greek words for\n"tumor" and "shield" and appropriately describes our goal to develop new\ntherapies that protect against the deadly effects of cancer."\n\n\nOncothyreon Inc. has today filed with the Securities and Exchange\nCommission (the "SEC") an amended registration statement on Form S-4, in which\nthe name Oncothyreon Inc. replaces the previously used name, Biomira\nCorporation, as the name of the Delaware holding corporation intended to\nbecome the ultimate parent corporation of a successor corporation of the\ncurrent Biomira and its subsidiaries. Assuming that the SEC declares the\nregistration statement effective, the shareholders approve of the plan of\narrangement, and the Alberta Court o...