Tekmira Announces Update to Its Proxy Circular on the Proposed Business Combination With OnCore Biopharma Inc.
February 25 2015 - 7:00PM
Tekmira Pharmaceuticals Corporation (Nasdaq:TKMR) (TSX:TKM), a
leading developer of RNA interference (RNAi) therapeutics,
announced today an update to persons who will serve as members of
the Board of Directors of the Company upon completion of the
Company's proposed business combination with OnCore Biopharma,
Inc., as described in the Company's proxy circular regarding the
transaction, dated February 4, 2015.
The Board of Directors of the combined company upon completion
of the merger will consist of Vivek Ramaswamy, who will serve as
Chairman of the Board, Mark J. Murray, Ph.D., Richard C. Henriques,
Jr., Keith Manchester, Frank Karbe, William T. Symonds, Pharm. D.,
and Herbert J. Conrad. Mr. Conrad brings tremendous industry
experience to the Board including past Chairman of Pharmasset Inc.,
and the past U.S. President of Roche Pharmaceuticals Division and a
Member of the Executive Committee and Board of Directors.
Daniel Kisner, M.D., will not serve as a Director or Vice
Chairman of the Board of Directors for the combined company.
About Tekmira
Tekmira Pharmaceuticals Corporation is a biopharmaceutical
company focused on advancing novel RNAi therapeutics and providing
its leading lipid nanoparticle (LNP) delivery technology to
pharmaceutical and biotechnology partners. Tekmira has been working
in the field of nucleic acid delivery for over a decade, and has
broad intellectual property covering its delivery technology.
Further information about Tekmira can be found at www.tekmira.com.
Tekmira is based in Vancouver, Canada and Seattle, USA.
About OnCore
OnCore Biopharma, Inc. is a biopharmaceutical company dedicated
to discovering, developing and commercializing an all-oral cure for
patients suffering from chronic hepatitis B infection, a disease of
the liver caused by hepatitis B virus, or HBV. OnCore's founding
management team has significant experience developing and
commercializing drug candidates targeting infectious liver
diseases, including HCV. Leveraging this experience, OnCore is
developing a portfolio of drug candidates with multiple mechanisms
of action that OnCore believes will ultimately result in a
combination therapy to develop a curative regimen for hepatitis B.
Specifically, OnCore is seeking to effect a cure by aggressively
suppressing HBV replication within liver cells, stimulating and
reactivating the body's immune system so that it can mount an
effective defense against the virus and, most importantly,
eliminating the reservoir of viral genomic material known as
covalently closed circular DNA, or cccDNA, that is the source of
HBV persistence. OnCore is located at the Pennsylvania
Biotechnology Center in Doylestown, Pennsylvania, which is also
home to the Hepatitis B Foundation and the Foundation's research
center, the Baruch S. Blumberg Institute. For more information,
please visit www.oncorebiopharma.com.
Forward-Looking Statements and Information
This press release contains forward-looking statements within
the meaning of the Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and
forward-looking information within the meaning of Canadian
securities laws (collectively, "forward-looking statements").
Forward-looking statements in this news release include statements
about the proposed merger of Tekmira and OnCore; the anticipated
closing of the merger; the composition of the board of the combined
company; and the ultimate result of OnCore's portfolio of drug
candidates.
With respect to the forward-looking statements contained in this
news release, Tekmira has made numerous assumptions regarding,
among other things: the ability to obtain required shareholder and
regulatory approval for the merger and the timing thereof; the
ability to satisfy all conditions for the closing of the merger,
including receipt of required regulatory approvals; the subsequent
integration of Tekmira and OnCore business and operations; the
continued availability, suitability, and willingness of the
proposed directors; and the efficacy of OnCore's portfolio of drug
candidates. While Tekmira considers these assumptions to be
reasonable, these assumptions are inherently subject to significant
business, economic, competitive, market and social uncertainties
and contingencies.
Additionally, there are known and unknown risk factors which
could cause Tekmira's actual results, performance or achievements
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements
contained herein. Known risk factors include, among others: the
ability of the parties to consummate the proposed merger;
satisfaction of closing conditions to the consummation of the
proposed merger; the ability to obtain Tekmira shareholder approval
for the merger; the ability to obtain any required regulatory
approvals and the timing of such, and conditions that may be
imposed on the merger; the impact of the announcement or the
closing of the merger on Tekmira's or OnCore's relationships with
its employees, existing or potential future customers and
collaborators; the ability of Tekmira to successfully integrate
OnCore's operations and employees in a timely and efficient manner;
the ability to realize anticipated synergies and costs savings of
the proposed merger; the parties may not be able to identify and
appoint a seventh director on a timely basis or at all; some or all
of the proposed directors may no longer be willing or able to serve
on the board; OnCore's portfolio of drug candidates may not result
in a combination therapy; and economic and capital market
conditions. A more complete discussion of the risks and
uncertainties facing Tekmira appears in the section entitled "Risk
Factors" in the definitive proxy statement filed with the SEC,
Tekmira's Annual Report on Form 10-K and Tekmira's continuous
disclosure filings, which are available at www.sedar.com and at
www.sec.gov. All forward-looking statements herein are qualified in
their entirety by this cautionary statement, and Tekmira disclaims
any obligation to revise or update any such forward-looking
statements or to publicly announce the result of any revisions to
any of the forward-looking statements contained herein to reflect
future results, events or developments, except as required by
law.
CONTACT: Investors
Julie P. Rezler
Director, Investor Relations
Phone: 604-419-3200
Email: jrezler@tekmira.com
Media
Please direct all media inquiries to media@tekmira.com
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