AnorMED Provides Update on Limited Duration Shareholder Rights Plan
September 15 2006 - 8:22PM
PR Newswire (US)
VANCOUVER, Sept. 15 /PRNewswire-FirstCall/ -- AnorMED Inc.
("AnorMED" or the "Company") (NASDAQ:ANOR; TSX:AOM) today announced
that, in accordance with its established policy, the Toronto Stock
Exchange ("TSX") has deferred its review of AnorMED's shareholder
rights plan. The TSX policy states that, in the context of an
active take-over bid, TSX will normally defer its own review until
the appropriate securities commission has determined whether or not
it will intervene pursuant to National Policy 62-202 of the
Canadian Securities Administrators. The TSX's stated practice is
that if the securities commission does not intervene, the TSX will
generally not object to the adoption of the Plan, provided that it
is ratified by security holders at a meeting held within six months
following the date of adoption of the Plan. The rights plan remains
effective in accordance with its terms. More information and where
to find it On September 5, 2006, AnorMED filed with the United
States and Canadian securities regulatory authorities a Directors'
Circular and Tender Offer Solicitation/Recommendation Statement on
Schedule 14D-9 in which AnorMED's Board of Directors recommended
that shareholders reject the September 1, 2006 hostile offer from
Dematal Corp., a wholly-owned subsidiary of Genzyme Corporation.
The Circular describes the reasons for the Board's recommendation
that shareholders reject the Genzyme Offer. Investors and
shareholders are strongly advised to read the Directors' Circular
and Tender Offer Solicitation/Recommendation Statement on Schedule
14D-9, as well as any amendments and supplements to those
documents, because they contain important information. Investors
and shareholders may obtain a copy of the Directors' Circular at
http://www.sedar.com/ and the Tender Offer
Solicitation/Recommendation Statement on Schedule 14D-9 from the
SEC website at http://www.sec.gov/. Free copies of these documents
can also be obtained by directing a request to AnorMED's Secretary
at Suite 200 - 20353 64th Avenue, Langley, British Columbia, Canada
V2Y 1N5; telephone (604) 530-1057. Other reports filed by or
furnished by AnorMED to the SEC and applicable securities
commission in Canada may also be obtained free of charge at
http://www.sec.gov/, http://www.sedar.com/ or from AnorMED's
Secretary. More information about AnorMED is available online at
http://www.anormed.com/. YOU SHOULD READ THE DIRECTORS' CIRCULAR OR
TENDER OFFER SOLICITATION/RECOMMENDATION STATEMENT CAREFULLY BEFORE
MAKING A DECISION CONCERNING THE GENZYME OFFER. About AnorMED Inc.
AnorMED is a chemistry-based biopharmaceutical company focused on
the discovery, development and commercialization of new therapeutic
products in the areas of hematology, oncology and HIV, based on the
Company's research into chemokine receptors. The Company's product
pipeline includes MOZOBIL, currently in pivotal Phase III studies
in cancer patients undergoing stem cell transplants; AMD070,
currently in proof of principle Phase I/II studies in HIV patients;
and several novel classes of compounds in pre-clinical development
that target specific chemokine receptors known to be involved in a
variety of diseases. FORWARD-LOOKING STATEMENTS This news release
contains forward-looking statements within the meaning of the
United States Private Securities Litigation Reform Act of 1995, and
forward looking information within the meaning of applicable
securities laws in Canada, (collectively referred to as
"forward-looking statements"). Statements, other than statements of
historical fact, are forward-looking statements and include,
without limitation, statements regarding the Company's strategy,
future operations, timing and completion of clinical trials,
prospects and plans and objectives of management. The words
"anticipates", "believes", "budgets", "could", "estimates",
"expects", "forecasts", "intends", "may", "might", "plans",
"projects", "schedule", "should", "will", "would" and similar
expressions are often intended to identify forward-looking
statements, which include underlying assumptions, although not all
forward-looking statements contain these identifying words. By
their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and other things contemplated
by the forward-looking statements will not occur. We caution
readers not to place undue reliance on these statements as a number
of important factors could cause our actual results to differ
materially from the beliefs, outlooks, plans, objectives,
expectations, anticipations, estimates and intentions expressed in
such forward-looking statements. Although our management believes
that the expectations represented by such forward-looking
statements are reasonable, there is significant risk that the
forward-looking statements may not be achieved, and the underlying
assumptions thereto will not prove to be accurate. Forward-looking
statements in this news release include, but are not limited to,
statements about: AnorMED's expectation that it can develop and
obtain regulatory approval for MOZOBIL in stem cell transplant
indications and any future product candidates in its targeted
indications; AnorMED's expectation that it can pay for the costs of
launching MOZOBIL for stem cell transplant indications and the
costs of future products in its targeted indications; AnorMED's
expectation that it can rely on third parties for the continued
supply and manufacture of MOZOBIL; AnorMED's expectation that it
can obtain patents and other intellectual property for its drug
candidates; AnorMED's expectation that it can protect its
intellectual property rights and not infringe on the intellectual
property rights of others; AnorMED's expectation that it can raise
the substantial additional financing required to fund further
research and development, conduct planned preclinical and clinical
studies, and obtain regulatory approvals; and AnorMED's expectation
that it will be able to obtain future equity financing on
commercially acceptable financial terms, or at all. With respect to
the forward-looking statements contained in this news release, the
Company has made numerous assumptions regarding, among other
things: AnorMED's ability to develop and obtain regulatory approval
for MOZOBIL in stem cell transplant indications and any future
product candidates in its targeted indications; AnorMED's ability
to pay for the costs of launching MOZOBIL for stem cell transplant
indications and the costs of future products in its targeted
indications; AnorMED's ability to rely on third parties for the
continued supply and manufacture of MOZOBIL; AnorMED's ability to
obtain patents and other intellectual property for its drug
candidates; AnorMED's ability to protect its intellectual property
rights and not infringe on the intellectual property rights of
others; AnorMED's ability to raise the substantial additional
financing required to fund further research and development,
conduct planned preclinical and clinical studies, and obtain
regulatory approvals; and AnorMED's ability to obtain future equity
financing on commercially acceptable financial terms, or at all.
The foregoing list of assumptions is not exhaustive. Actual results
or events could differ materially from the plans, intentions and
expectations expressed or implied in any forward-looking
statements, including the underlying assumptions thereto, as a
result of numerous risks, uncertainties and other factors
including: AnorMED may not be able to develop and obtain regulatory
approval for MOZOBIL in stem cell transplant indications and any
future product candidates in its targeted indications; AnorMED may
not be able to pay for the costs of launching MOZOBIL for stem cell
transplant indications and the costs of future products in its
targeted indications; AnorMED may not be able to rely on third
parties for the continued supply and manufacture of MOZOBIL;
AnorMED may not be able to obtain patents and other intellectual
property for its drug candidates; AnorMED may not be able to
protect its intellectual property rights and not infringe on the
intellectual property rights of others; AnorMED may not be able to
raise the substantial additional financing required to fund further
research and development, conduct planned preclinical and clinical
studies, and obtain regulatory approvals; and AnorMED may not be
able to obtain future equity financing on commercially acceptable
financial terms, or at all. Although we have attempted to identify
the forward-looking statements, the underlying assumptions, and the
risks, uncertainties and other factors that could cause actual
results or events to differ materially from those expressed or
implied in the forward-looking statements, there may be other
factors that cause actual results or events to differ from those
expressed or implied in the forward-looking statements. We
undertake no obligation to revise or update any forward-looking
statements as a result of new information, future events or
otherwise, after the date hereof, except as may be required by law.
CONTACT: Company Contact: Kenneth Galbraith, Chairman and Interim
CEO, Tel: (604) 889-5320; or Kim Nelson, Ph.D., Manager, Investor
Relations, Tel: (604) 532-4654, Cell: (604) 614-2886, Email: ;
Media Contact: Karen Cook, James Hoggan & Associates, Tel:
(604) 739-7500, Email: DATASOURCE: AnorMED Inc. CONTACT: Company
Contact: Kenneth Galbraith, Chairman and Interim CEO, Tel: (604)
889-5320; or Kim Nelson, Ph.D., Manager, Investor Relations, Tel:
(604) 532-4654, Cell: (604) 614-2886, Email: ; Media Contact: Karen
Cook, James Hoggan & Associates, Tel: (604) 739-7500, Email:
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