HAYWARD, Calif., Jan. 21 /PRNewswire-FirstCall/ -- Aradigm Corporation today announced that it has received a majority approval from its shareholders for all proposals submitted to them in their recent definitive proxy statement including the overwhelming approval of the restructured licensing agreement with its partner Novo Nordisk. These results were certified following a Special Meeting of Shareholders held this morning with the company expecting formal closing of the agreement sometime next week.
"We are pleased with this vote of confidence by our shareholders that now allows us to focus on our internal AERx and Intraject development programs while maintaining our long-term financial interest in the AERx pulmonary insulin program," said Dr. Bryan Lawlis, Aradigm's President and CEO. "Following recent positive clinical news involving Intraject with sumatriptan and our AERx collaboration in the area of respiratory diseases, the company has demonstrated its ability to execute on key initiatives and has seen an increased interest from partners in both platforms."
A copy of the presentation made to shareholders today can be found in pdf format under the "Investors" section of http://www.aradigm.com/.
Aradigm develops non-invasive delivery systems to enable patients to comfortably self-administer biopharmaceuticals and small molecules that would otherwise be given by injection. The company's advanced AERx(R) pulmonary and Intraject(R) needle-free delivery technologies offer rapid delivery solutions for liquid drug formulations. Current development programs focus on neurological disorders, heart disease, respiratory conditions and cancer. More information about Aradigm can be found at http://www.aradigm.com/ .
Except for the historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties, including clinical results, the timely availability and acceptance of new products, the impact of competitive products and pricing, and the management of growth, as well as the other risks detailed from time to time in Aradigm Corporation's Securities and Exchange Commission (SEC) Filings, including the company's Annual Report on Form 10-K, and quarterly reports on Form 10-Q.
NOTE: AERx and Intraject are registered trademarks of Aradigm.
Contact: Christopher Keenan or Joe Dorame
Aradigm The RCG Group
CONTACT: Christopher Keenan of Aradigm Corporation, +1-510-265-9370; orJoe Dorame of The RCG Group, +1-480-675-0400, for Aradigm Corporation