EDMONTON, Sept. 27 /PRNewswire-FirstCall/ - Biomira Inc. today announced that it has received final clearance from the applicable Canadian regulatory authorities with respect to a U.S. $100 million shelf prospectus filed in specified Canadian jurisdictions. Biomira concurrently filed a shelf registration statement in the United States on Form F-10, which was effective upon filing in definitive form. The shelf registration became effective in both countries on September 26, 2006.
“Biomira is approaching an important transition as we look to acquire or in-license additional cancer therapeutics to expand our pipeline,” commented Dr. Robert Kirkman, President and CEO. “This shelf registration will provide us with the flexibility to obtain financing efficiently, as market conditions allow, to support both internal development and future partnering activities.”
The shelf prospectus will be effective for approximately 25 months. The terms of any offering under the shelf prospectus will be established at the time of the offering and will be described in a prospectus supplement filed at that time.
About Biomira
Biomira is a biotechnology company specializing in the development of innovative therapeutic approaches to cancer management. Biomira’s commitment to the treatment of cancer currently focuses on the development of synthetic vaccines and novel strategies for cancer immunotherapy.
This release may contain forward-looking statements. Various factors could cause actual results to differ materially from those projected in forward-looking statements, including those predicting the potential expansion of our pipeline and the ability to identify and partner with owners of possible products through in-licensing or out-licensing arrangements as well as the availability of future financing on acceptable terms under the shelf registration statement. Although the Company believes that the forward-looking statements contained herein are reasonable, it can give no assurance that the Company’s expectations are correct. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.
Biomira Inc.
CONTACT: Biomira Investor and Media Relations, Bill Wickson, Director,Communications & Investor Relations, (780) 490-2818; U.S. Contact -Financial Dynamics: Media: Jonathan Birt, (212) 850-5634, jbirt@fd-us.com;Investors: John Capodanno, (212) 850-5705, jcapodanno@fd-us.com
