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ActivBiotics Set to Sell Proprietary Assets, Including Drug Product Candidates, on March 14, 2008


3/5/2008 7:44:35 AM

WELLESLEY HILLS, Mass., March 5 /PRNewswire/ -- Joseph F. Finn, Jr., CPA, the Assignee for the Benefit of Creditors of ActivBiotics, confirmed today that the sale of ActivBiotics' proprietary assets will be carried out through a sealed bid at 12:00 PM on March 14, 2008. There has been substantial interest from various parties about different aspects of the technology. "With 48 bid packages being reviewed by companies, in addition to comprehensive due diligence, I believe we'll be able to successfully monetize the assets of the company," said Joseph F. Finn, Jr. "However, because different parties are interested in different assets, it is unlikely that sale of all three assets will go to a single buyer," added Finn.

For additional information on the terms of sale and to obtain a bidder's package, please contact Joseph F. Finn, Jr., CPA (jffinnjr@earthlink.net, phone 781-237-8840), Finn, Warnke & Gayton, 167 Worcester Street, Suite 201, Wellesley Hills, MA 02481-3613. For technical information on the assets, please contact Christo Shalish, cshalish@activbiotics.com.

CONTACT: Christo Shalish of ActivBiotics, Inc., +1-617-901-4511,
cshalish@activbiotics.com

Web site: http://www.activbiotics.com//



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