BUFFALO, N.Y., July 26 /PRNewswire-FirstCall/ -- MINRAD, Inc. shareholders, by an excess of 66.7% votes, have approved the July 15, 2004 merger agreement with Technology Acquisition Corporation (BULLETIN BOARD: TAQC) and its subsidiary. Please contact Rich Tamulski, V.P. Finance, at 716-855-1068, ext. 202 with any further questions.
About MINRAD
MINRAD is an innovator in acute care medical devices and pharmaceuticals. The company’s medical device products incorporate patented real time image-guidance technologies that enable medical professionals to improve the accuracy of interventional procedures and provide a significant reduction in radiation exposure for both patients and medical professionals. MINRAD’s present pharmaceutical products are generic inhalation anesthetics that are primarily used for surgical interventions. However, a patentable drug/drug delivery system is under development.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking information about MINRAD, INC. (“MINRAD”), Technology Acquisition Corporation (“TAC”) and the combined company after completion of the transactions that are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as “expect(s),” “feel(s),” believe(s),” “intend(s),” “will,” “may,” “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underling assumptions; statements regarding plans, objectives, and expectations with the respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of MINRAD and TAC, that could cause actual results to differ materially from those expressed in or implied or projected by, the forward-looking information and statements. These risks and uncertainties included: those discussed and identified in the public filings with the U.S. Securities and Exchange Commission (“SEC”) made by MINRAD and TAC; trends in health care, acute care medical devices and pharmaceuticals industries; our ability to identify quality management; competitor pricing below market trends of increasing costs; increased government regulation of acute care medical devices and pharmaceuticals; significant acquisitions of divestures by major competitors; introduction and utilization of medical technology; a downgrade in our financial strength; litigation targeted at companies in our industry; our ability to consummate MINRAD’s merger with TAC, and to achieve expected synergies and operating efficiencies in the merger within the expected time-frames or at all and to successfully integrate our operations; such integrations may be more difficult, time-consuming or costly than expected; revenues following the transaction may be lower than expected; operating cost, customer loss and business disruption, including, without limitation, difficulty in maintaining relationships with employees, customers, clients or suppliers may be greater than expected following the transaction; the regulatory approvals required for the transaction may not be obtained on the terms expected or on the anticipated schedule; our ability to meet expectations regarding timing, completion, and accounting and tax treatments of the transaction and the value of the transaction consideration; future bio-terrorist activity or other potential public health epidemics; and general economic downturns. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only of the date hereof. Neither MINRAD nor TAC undertakes any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Readers are also urged to carefully review and consider the various disclosures in MINRAD’s and TAC’s various SEC reports, including but not limited to TAC’s Annual Report on Form 10-KSB for the year ended March 31, 2004.
Additional Information and Where to Find It
This press release should not be deemed to be solicitation material in respect of the proposed merger of MINRAD and TAC. In connection with the proposed transaction, an Information statement on schedule 14C will be filed with the SEC. SHAREHOLDERS OF MINRAD AND STOCKHOLDERS OF TAC ARE ENCOURAGED TO READ THE INFORMATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE INFORMATION CONTAINED IN TAC’S CURRENT REPORT ON FORM 8-K ANNOUNCING THIS MERGER, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER. Investors and security holders will be able to obtain the documents free of charge at the SEC’s web site, http://www.sec.gov/.
MINRAD’s Investor Relations representative is John Liviakis at Liviakis Financial Communications, Inc. Mr. Liviakis can be reached by telephone at 415-389-4670.
MINRAD, Inc.
CONTACT: John Liviakis of Liviakis Financial Communications, Inc.,+1-415-389-4670, for MINRAD, Inc.
