AutoImmune, Inc. Files Certificate of Dissolution and Completes Sale of Colloral LLC Business; Trading of Common Stock to Cease After June 30, 2010
PASADENA, Calif., June 30 /PRNewswire-FirstCall/ -- AutoImmune Inc. (Pink Sheets: AIMM) today announced that it filed its Certificate of Dissolution with the Delaware Secretary of State on June 30, 2010 (the "Final Record Date"), in accordance with its previously announced Plan of Complete Liquidation and Dissolution. As a result of such filing, the company has closed its stock transfer books and will discontinue recording transfers of its common stock, except by will, intestate succession or operation of law effective at the close of business on the Final Record Date. All liquidating distributions from AutoImmune after the Final Record Date will be made to stockholders of record on the Final Record Date pro rata according to their holdings of common stock as of the Final Record Date.
In furtherance of the company's Plan of Complete Liquidation and Dissolution, the company has completed a sale of the assets of the Colloral® business, the company's joint venture with Deseret Laboratories, Inc. As part of the sale transaction and dissolution process, Colloral LLC was merged with and into AutoImmune.
As previously announced, AutoImmune's business activities are now limited to those necessary to preserve the value of its assets, wind up its business and affairs, and distribute its assets in accordance with the Plan of Complete Liquidation and Dissolution.
About AutoImmune Inc.
AutoImmune is a biopharmaceutical company that has focused on the development of treatments for autoimmune and cell-mediated inflammatory diseases and conditions.
SOURCE AutoImmune Inc.