VPRO Viropro Inc (CE)

VIROPRO (Pink Sheets: VPRO) wishes to update the investment community.

Viropro’s mission is to become a premier provider of outsourced research, development and manufacturing services for the biopharmaceutical industry. To this end, over the past several months, the Company has actively implemented its business plan for biotech Contractual Research and Manufacturing Services. The Spectrum Pharmaceuticals Agreement, disclosed on January 5, 2011, is an excellent example of the future of Biotech “CRAMS.”

The global market for biopharmaceutical drugs is estimated at US$75 billion, and the rapidly developing market for biosimilars alone in the US, Europe and Japan will exceed US$2 billion by 2015. This is primarily driven by patent expiries of major recombinant protein-based therapeutic products, increasing demand for cost-effective biosimilars, and an aging population requiring biologic drugs for the treatment of chronic and complicated conditions such as kidney diseases or cancers.

It is Viropro’s aim to provide contract development and manufacturing services to clients irrespective of whether it is a novel biological entity, a biosimilar, or a biobetter. Given the potential size of this market, Viropro is creating an integrated, “clone-to-manufacturing” services organization through its subsidiaries - Viropro International of Montreal, Canada, Biologics Process Development Inc. of Poway, CA, and Alpha Biologics of Penang, Malaysia.

On February 22, the Company announced it had acquired Alpha Biologics Sdn. Bhd., a major cGMP facility in Penang, Malaysia. This prestigious facility boasts a list of reputable clients such as INSERM (France’s Institut national de la santé et de la recherche médicale, National Institute of Health and Medical Research). From this all-share acquisition, Viropro can now count on the support of new institutional stockholders such as Khazanah Nasional Berhad, Great Eastern Life Assurance, PacificMas Berhad and TH Capital Berhad. Purchase price for Alpha as a whole including the facility was agreed at 21M USD but Company will request reappraisal as the market value for the plant alone is significantly higher, closer to 40M USD, once all GMP certifications are completed.

The Company is currently in discussions for “clone-to-manufacturing” contracts with US, EU and Asian bio/pharmaceutical companies.

Viropro Inc. will be the public holding company under which its operating entities will deliver services. Viropro International Inc. offers cloning and sequencing services, while development, purification and scale-up will be performed at BPD, or at Alpha’s Cambridge, UK laboratories, which will lead to production out of Alpha Biologics. Other operating units such as high-end Protein Analysis and Validation will also be offered, and leading companies in these areas have been identified, with discussions in advanced stages. Each of the operating units will continue to provide its “local” geographical clients services that call for their specific core competencies.

Viropro Inc. Safe Harbor Statement

Except for any historic information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, which are subject to section 27A of the Securities Act of 1933 and section 21E of the Exchange Act of 1934, and are subject to safe harbor created by these sections. Any statements that express or involve discussions with respect to predictions, beliefs, plans, projections, objectives, goals, assumptions of future events or performances are not statements of historical fact and may be "forward-looking statements." Forward-looking statements in this release may be identified through the use of such words as "expects," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements, which involve numerous risks and uncertainties, including the Company's ability to market its products and services in a competitive environment as well as other factors.

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