HILLSIDE, N.J., Nov. 14, 2007 (PRIME NEWSWIRE) -- Integrated Biopharma, Inc. (Nasdaq:INBP) announced today that its Board of Directors has approved the previously-announced spin-off of its InB:Biotechnologies, Inc. subsidiary (“Biotech”). INBP and Biotech have entered into a Separation and Distribution Agreement, which, upon consummation, should result in the tax-free spin-off of Biotech. INBP will make required informational filings in the near future with the Securities and Exchange Commission relating to the spin-off and expects to complete the spin-off as soon as practicable after the satisfaction of customary closing conditions, including the effectiveness of the registration of Biotech’s common stock under the Securities Exchange Act of 1934. Upon completion of the separation, Biotech will be given a new corporate name distinct from its parent.
