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TranXenoGen, Inc. (LS:TXN) Statement Regarding Proposed Sale Of Facility



10/19/2005 5:08:42 PM

SHREWSBURY, Mass., June 3 /PRNewswire-FirstCall/ -- TranXenoGen, Inc. ("TranXenoGen" or the "Company"), announces that the party with whom it had agreed to sell its building, as detailed in the proxy statement sent to all shareholders, has given notice of withdrawal from the transaction. The Board is seeking clarification on the withdrawal and will seek to obtain a new buyer as the Company has continued to market the facility. A further announcement will be made as soon as additional information is available.

The Company's Annual General Meeting will still be held on June 23, 2005, at 10:00 a.m. EDT, to address the other resolutions.

About TranXenoGen

TranXenoGen, Inc. is a publicly traded development stage, Biotechnology Company, and, as such, investors should be aware that an investment in the Company involves a substantially high degree of risk. Its shares are quoted on the Alternative Investment Market of the London Stock Exchange. The securities of the Company have not been registered under the Securities Act of 1933 and therefore, may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under such Act.

Risk Warning Notice:

This press release contains forward-looking statements that can be identified by terminology such as "expects", "potential", "suggests", "may", "will" or similar expressions. Such forward-looking statements regarding our business, which are not historical facts, are "forward-looking statements" that involve risk and uncertainties, which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements. Actual results may differ materially from statements made as a result of various factors, including, but not limited to sufficiency of cash to fund the Company's planned operations, risk associated with inherent uncertainty of product research and development, risk of protecting proprietary rights and competition. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect the circumstances or events that occur after the date the forward-looking statements are made.

ENQUIRIES: TranXenoGen, Inc. Tel: 001 508 936 4214 Paul DiTullio, President and CEO Email: pditullio@tranxenogen.com Insinger de Beaufort Tel: 020 7190 7000 Stephen Goschalk

TranXenoGen, Inc.

CONTACT: Paul DiTullio, President and CEO of TranXenoGen, Inc., 001 508936 4214, pditullio@tranxenogen.com, or Stephen Goschalk of Insinger deBeaufort, 020 7190 7000


Read at BioSpace.com


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