Inovio Biomedical Corporation (INO) and VGX Pharmaceuticals (Formerly Known as Viral Genomix, Inc.) Extend Completion Date for Definitive Merger Agreement
4/1/2009 10:14:16 AM
SAN DIEGO--(BUSINESS WIRE)--Inovio Biomedical Corporation (NYSE Alternext: INO), a leader in enabling the development of DNA vaccines using electroporation-based DNA delivery, announced today it has agreed with VGX Pharmaceuticals, Inc. to extend the completion date of their proposed merger from March 31 to June 30, 2009. Inovio and VGX are committed to completion of the merger and are taking the necessary steps to complete the registration process with the SEC. However, the closing of the transaction will not be able to occur by March 31, 2009, due to the time required to complete the registration process, mail the proxy statement/prospectus, provide for required notice periods and hold the Inovio and VGX stockholder meetings.