PALO ALTO, Calif., Nov. 17 /PRNewswire/ -- Avicena Group, Inc. (Avicena) today announced that on November 14, 2005, the Securities and Exchange Commission (the SEC) declared effective Avicena’s registration statement, which registered 21,000,000 shares of Avicena common stock, held by certain selling stockholders. The company will not receive any proceeds from the sale of any of the registered shares.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction or state. The offering of the securities is made only by means of a prospectus, copies of which may be obtained by contacting Avicena, 228 Hamilton Avenue, Third Floor, Palo Alto, CA 94301 (415-397-2880).
ABOUT AVICENA
Based in Palo Alto, CA, Avicena is a biotechnology company that seeks to develop and commercialize therapeutic products that regulate the critical energy processes which occur within human cells. Avicena’s focus is on the development of pharmaceutical products to treat small patient populations (orphan drugs) and dermaceutical products. To date, the company has advanced certain compounds for the treatment of amyotrophic lateral sclerosis (ALS or Lou Gehrig’s disease) into Phase III trials and treatments for Parkinson’s disease and Huntington’s disease (HD) into Phase II development.
SAFE HARBOR
This release may contain forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements reflect, among other things, management’s current expectations, plans and strategies, and anticipated financial results, all of which are subject to known and unknown risks, uncertainties and factors that may cause our actual results to differ materially from those expressed or implied by these forward-looking statements. Many of these risks are beyond our ability to control or predict. See “Risk Factors” in the company’s prospectus for a discussion of such risks, including the company’s need for additional funds, the company’s dependence on a limited number of therapeutic compounds, the early state of the products the company is developing, uncertainties relating to clinical trials and regulatory reviews, competition and dependence on collaborative partners, the company’s ability to avoid infringement of the patent rights of others, and the company’s ability to obtain adequate patent protection and to enforce these rights. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. Furthermore, forward-looking statements speak only as of the date they are made. Avicena does not undertake any obligation to update or review any such forward-looking information, whether as a result of new information, future events or otherwise.
Avicena Group, Inc. Belinda Tsao-Nivaggioli, Ph.D. Chief Executive Officer 415-397-2880 Vida Communication Stephanie Diaz (investors) 415-675-7400 sdiaz@vidacommunication.com Tim Brons (media) 415-675-7400 646-319-8981 (mobile) tbrons@vidacommunication.com
Avicena Group, Inc.
CONTACT: Belinda Tsao-Nivaggioli, Ph.D., Chief Executive Officer ofAvicena Group, Inc., +1-415-397-2880; or investors, Stephanie Diaz,+1-415-675-7400, or sdiaz@vidacommunication.com, or media, Tim Brons,+1-415-675-7400, or mobile, +1-646-319-8981, ortbrons@vidacommunication.com, both of Vida Communication, for Avicena Group
