Biotech Viragen International to Liquidate Assets

Published: Oct 24, 2007

After 25 years and at least $193 million invested in trying to launch a sustainable biotech company, Viragen has thrown in the towel. The Plantation-based company (OTCBB: VRAIE) and subsidiary Viragen International (OTCBB: VGNI) filed an assignment for the benefit of creditors in Broward County Circuit Court on Tuesday. Fort Lauderdale-based accountant Soneet R. Kapila was assigned to liquidate the company's assets.

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