GBC Globeecom International Inc. (Tier2)

Pacgen Life Science Corporation ("Pacgen" or the "Company") (TSX VENTURE:PBS)
announced that it has closed its previously announced partnership agreement (the
"Agreement") with General Biologicals Corporation ("GBC"). Pursuant to the
Agreement, the Company has agreed to grant GBC a right to develop and
commercialize PAC-113, a 12 amino-acid antimicrobial peptide derived from a
naturally occurring histatin protein found in human saliva. 


The Company held an annual and special meeting of shareholders on March 18, 2014
(the "AGM") for its shareholders to consider the Agreement, among other annual
shareholder meeting matters. At the AGM, Pacgen shareholders unanimously
approved the Agreement. The Company has now obtained the approval from the TSX
Venture Exchange to proceed with the closing of the transaction with GBC. 


Under the terms of the Agreement, Pacgen has granted GBC its worldwide exclusive
right to develop and commercialize prescription and non-prescription
pharmaceutical products containing PAC-113 or one or more related peptides for
the treatment of any oral condition (excluding transitional skin-mucous membrane
areas), as well as vaginal, dermatological and ophthalmic conditions. In
exchange, GBC has paid an upfront payment and will pay minimum annual royalty
payments. GBC will also pay Pacgen milestone payments and royalty payments
linked to marketing approvals and product sales, respectively. 


At the AGM, Mr. Chung-Yu Wang, Mr. John Hsuan, Mr. Fred Huang, Dr. Telvin Ju and
Dr. Jeng-Horng Her were re-elected to the board of directors of the Company. 


About Pacgen

Pacgen is a life science technology company focused on the commercialization of
biomedical products and services, including its previous development of novel
therapeutic drug candidates. For additional information, please visit
www.pacgenlife.com.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 


Forward-looking Statements

Certain statements included in this press release may be considered
forward-looking. Statements relating to, among other things, anticipated
financial performance, business prospects, strategies, regulatory developments,
market acceptance and future commitments constitute forward-looking statements.
All forward-looking statements are based on Pacgen's current beliefs and
expectations as well as assumptions relating to the successful completion of its
clinical trials and pre-clinical studies, the time and process required to
obtain regulatory approval for commercialization of its product, the ability of
Pacgen to raise additional capital in future on favourable terms, the impact of
competitive products and pricing in the market, new product development, and the
successful and timely completion of corporate collaborations or licensing
arrangements for its research programs. Such statements involve known and
unknown risks, uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially different from
those implied by such statements, and therefore these statements should not be
read as guarantees of future performance or results. Such factors include, among
others, our stage of development, lack of product revenues, additional capital
requirements, risk associated with completion of clinical trials and obtaining
regulatory approval, dependence on collaborative partners, and our ability to
protect our intellectual property. 


Wherever possible, words such as "anticipate", "believe", "expect", "may",
"could", "will", "potential", "intend", "estimate", "should", "plan", "predict",
"project" or the negative or other variations of such expressions reflect
Pacgen's current beliefs and assumptions and are based on the information
currently available to Pacgen. Certain risks and uncertainties, including those
risk factors identified by Pacgen in its annual management's discussion and
analysis dated August 5, 2013, may cause our actual results, level of activity,
performance or achievements to differ materially from those implied by forward
looking statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are made only as of the date of this press
release. Pacgen disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law. For all forward-looking
statements, Pacgen claims the safe harbour for forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Pacgen Life Science Corporation
Chung-Yu Wang
Chairman and Interim Chief Executive Officer
604-436-4388
cy.wang@pacgenlife.com


Pacgen Life Science Corporation
Christina Yip
Chief Financial Officer and Secretary
604-436-4388
christina.yip@pacgenlife.com
www.pacgenlife.com

Globeecom International Inc. (Tier2) (TSXV:GBC)
Historical Stock Chart
From Mar 2024 to Apr 2024

Globeecom International Inc. (Tier2) (TSXV:GBC)
Historical Stock Chart
From Apr 2023 to Apr 2024