VANCOUVER, Feb. 23 /PRNewswire-FirstCall/ - Inex Pharmaceuticals Corporation announced today that it has submitted a petition for filing in the Supreme Court of British Columbia seeking to have Protiva Biotherapeutics Inc. ("Protiva") declared bankrupt and that a bankruptcy order be made in respect of the property of Protiva.
Under agreements between INEX and Protiva, Protiva is to reimburse INEX for certain patent costs incurred by INEX. Protiva has not paid INEX, as per the agreements, since June 2006. The total amount owed to INEX from July 2006 to December 2006 is $71,882.89, not including interest. INEX has been told that there are other creditors of Protiva whose invoices have not been paid when due.
INEX is a Canadian biopharmaceutical company developing and commercializing proprietary drugs and drug delivery systems to improve the treatment of cancer. Further information about INEX can be found at www.inexpharm.com.
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CONTACT: Investors, Ian Mortimer, Vice President, Finance and Chief Financial Officer, Phone: (604) 419-3200, Email: email@example.com, Website: www.inexpharm.com; Media, Karen Cook Boas, James Hoggan & Associates Inc., Phone: (604) 739-7500, Email: firstname.lastname@example.org
Inex Pharmaceuticals Corporation
CONTACT: Investors, Ian Mortimer, Vice President, Finance and ChiefFinancial Officer, Phone: (604) 419-3200, Email: email@example.com,Website: www.inexpharm.com; Media, Karen Cook Boas, James Hoggan &Associates Inc., Phone: (604) 739-7500, Email: firstname.lastname@example.org