Court issues final order approving Biomira's move to U.S. and name change to Oncothyreon

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[{"type":"text","content":"\n\n\n\nEDMONTON, Dec. 5 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA)\n("Biomira", the "Company") announced that the Alberta Court of Queen's Bench\ntoday issued a Final Order approving the plan of arrangement under which the\nCompany will move to the United States and change its name to Oncothyreon Inc.\n("Oncothyreon"). Biomira also announced that the Board of Directors, upon\nreview of the shareholder vote and other pertinent matters, yesterday voted\nunanimously to proceed with the plan of arrangement.\n\n\nBiomira intends to file articles of amendment to effect the plan of\narrangement on or about December 10, 2007, and to commence trading as\nOncothyreon on the Nasdaq National Market under the symbol "ONTY" and on the\nToronto Stock Exchange under the symbol "ONY" shortly thereafter. Letters of\ntransmittal are expected to be mailed to registered shareholders commencing\nlater today.\n\n\nUpon completion of the plan of arrangement, Oncothyreon will become the\nparent corporation of a successor corporation of the current Biomira and its\nsubsidiaries. Holders of common shares of Biomira will receive one-sixth of a\nshare of common stock of Oncothyreon in exchange for each common share of\nBiomira. Oncothyreon intends to establish its headquarters in or near Seattle,\nWashington.\n\n\nAbout Biomira\n\n\nBiomira is a biotechnology company specializing in the development of\ninnovative therapeutic products for the treatment of cancer. Biomira's goal is\nto develop and commercialize novel synthetic vaccines and targeted small\nmolecules that have the potential to improve the lives and outcomes of cancer\npatients.\n\n\nForward Looking Statements\n\n\nIn order to provide Biomira's investors with an understanding of its\ncurrent intentions and future prospects, this release contains statements that\nare forward looking, including statements relating to the proposed\nreincorporation of Biomira from Canada to the United States and the timing\nthereof. These forward-looking statements represent Biomira's intentions,\nplans, expectations and beliefs and are based on its management's experience\nand assessment of historical and future trends and the application of key\nassumptions relating to future events and circumstances.\n\n\nForward-looking statements involve risks and uncertain...

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