EDMONTON, Sept. 27 /CNW/ - Biomira Inc. (Nasdaq: BIOM) (TSX: BRA) today
announced that it has received final clearance from the applicable Canadian
regulatory authorities with respect to a U.S. $100 million shelf prospectus
filed in specified Canadian jurisdictions. Biomira concurrently filed a shelf
registration statement in the United States on Form F-10, which was effective
upon filing in definitive form. The shelf registration became effective in
both countries on September 26, 2006.
"Biomira is approaching an important transition as we look to acquire or
in-license additional cancer therapeutics to expand our pipeline," commented
Dr. Robert Kirkman, President and CEO. "This shelf registration will provide
us with the flexibility to obtain financing efficiently, as market conditions
allow, to support both internal development and future partnering activities."
The shelf prospectus will be effective for approximately 25 months. The
terms of any offering under the shelf prospectus will be established at the
time of the offering and will be described in a prospectus supplement filed at
that time.
About Biomira
Biomira is a biotechnology company specializing in the development of
innovative therapeutic approaches to cancer management. Biomira's commitment
to the treatment of cancer currently focuses on the development of synthetic
vaccines and novel strategies for cancer immunotherapy.
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This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected
in forward-looking statements, including those predicting the
potential expansion of our pipeline and the ability to identify
and partner with owners of possible products through in-licensing
or out-licensing arrangements as well as the availability of future
financing on acceptable terms under the shelf registration statement.
Although the Company believes that the forward-looking statements
contained herein are reasonable, it can give no assurance that the
Company's expectations are correct. All forward-looking statements
are expressly qualified in their entirety by this cautionary
statement.
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