BUFFALO, N.Y., Dec. 16 /PRNewswire-FirstCall/ -- TECHNOLOLGY ACQUISITION CORP. (BULLETIN BOARD: TAQC.OB) (the “Company”) announced today that it has completed its previously announced merger with MINRAD, Inc. (“MINRAD”). Pursuant to the terms of the Merger Agreement, a wholly-owned subsidiary of the Company has merged with and into MINRAD, with MINRAD as the surviving corporation. Upon the closing of the merger, John Kinney resigned as CEO, President and Chairman of the Board of Directors of the Company, along Steve Obana, CFO and Member of the Board, and both appointed William H. Burns, Jr. as CEO and Chairman of the Board, the position that he held at MINRAD.
In addition, MINRAD’s current Directors were appointed to the Board of Directors of the Company. The Company also approved the change of its name to “MINRAD INTERNATIONAL, INC.”
Upon the merger, the Company will be engaged in the design and manufacture of acute care medical devices and pharmaceuticals through MINRAD. MINRAD’s medical device products incorporate patented real time image guidance technologies that enable medical professionals to improve the accuracy of interventional procedures and provide reduced radiation exposure for both patients and medical professionals. MINRAD’s present pharmaceutical products are generic inhalation anesthetics that are primarily used for surgical interventions. MINRAD is currently developing a patentable conscious drug delivery system. Subsequent development and marketing of these products will require additional financing.
Safe Harbor Statement
This information contains certain forward looking statements, as defined in the Private Securities Litigation Reform Act of 1995, including or related to our future results (including certain projections, business trends and assumptions on future financings).
Assumptions related to forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions and financings, all of which are difficult or impossible to predict. When used in this presentation, the words or statements that relate to future events and our future financial performance, such as “may,” “will,” “should,” “expect,” “scheduled,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “potential,” or “continue” or the negative of such terms or other similar words, are intended to be forward-looking statements. You should read these statements carefully because they discuss our future expectations, and we believe that it is important to communicate these expectations to our stockholders. Actual events or results may differ materially.
For additional information contact the Company: Frances Quattrocki 716-855-1068, ext. 217 or fquattrocki@minrad.com
MINRAD, Inc.
CONTACT: Frances Quattrocki of MINRAD, Inc., +1-716-855-1068, ext. 217,or fquattrocki@minrad.com
