A5 Labs Signs Letter of Intent to Acquire CRO Assets and Interferon Technology From Vidacare

MONTREAL, QUEBEC--(Marketwire - May 07, 2010) - A5 Labs today announced that it has signed a letter of intent to acquire contract research (CRO) assets and a novel interferon production technology from Vida Pharma, also based in Montreal, Canada. The all share transaction is expected to close on or before June 15, 2010.

The CRO assets include all equipment and fixtures (tangible) and all intellectual properties including analytical methods, laboratory information management system, standard operating procedures and list of customers.

The interferon production technology includes all know how and data from previous clinical trials related to the production of gamma interferon.

“We are very pleased to begin the process of acquisition of these assets. Our strategic vision is to use the CRO assets to create a research based profit center and to leverage that internal core competence to develop and commercialize novel biotechnology products,” said Dr. Richard Azani, President and CEO.

About A5 Labs:

A5 labs is a contract research based organization servicing the pharmaceutical and biotechnology companies in North America. The company utilizes its research capabilities to license and acquire novel biotechnology products for development and commercialization.

Safe Harbor Statement:

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend” and similar expressions, as they relate to A5 or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of A5’s products, the competitive environment within the industry, the ability of A5 to continue to expand its operations, the level of costs incurred in connection with A5’s expansion efforts, economic conditions in the industry and the financial strength of A5’s customers and suppliers. A5 does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.


Contacts:
A5 Labs
Richard Azani
(514) 502-9494
razani@a5labs.com

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