-Transaction
with Technifund-
TORONTO,
CANADA - September 1 /CNW/ - Lorus Therapeutics Inc. (“Lorus”) a
biopharmaceutical company specializing in the research and development
of
pharmaceutical products and technologies for the management of cancer,
today
announced that it
has successfully completed the transaction
previously announced
with Technifund
Inc. to
issue, on a private placement basis, 5 million common shares at $0.36 per
share
for gross proceeds of $1.8 million.
About
Lorus
Lorus
is a biopharmaceutical company focused on the research and development
of cancer
therapies. Lorus’ goal is to capitalize on its research, preclinical, clinical
and regulatory expertise by developing new drug candidates that can be
used,
either alone, or in combination, to successfully manage cancer. Through
its own
discovery efforts and an acquisition and in-licensing program, Lorus is
building
a portfolio of promising anticancer drugs. Late-stage clinical development
and
marketing may be done in cooperation with strategic pharmaceutical partners.
Lorus currently has three products in clinical assessment with a pipeline
of
seven clinical trials in phase II programs, one phase II clinical study
completed, and one large Phase III clinical trial recently completed. Lorus
Therapeutics Inc. is a public company listed on the Toronto Stock Exchange
under
the symbol LOR, and on the American Stock Exchange under the symbol LRP.
Virulizin®
is a registered trademark of Lorus Therapeutics Inc.
Forward
Looking Statements
Except
for historical information, this press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of
1995, which reflect the Company’s current expectation and assumptions, and are
subject to a number of risks and uncertainties that could cause actual
results
to differ materially from those anticipated. These forward-looking statements
involve risks and uncertainties, including, but not limited to, changing
market
conditions, the Company’s ability to obtain patent protection and protect its
intellectual property rights, commercialization limitations imposed by
intellectual property rights owned or controlled by third parties, intellectual
property liability rights and liability claims asserted against the Company,
the
successful and timely completion of clinical studies, the establishment
of
corporate alliances, the impact of competitive products and pricing, new
product
development, uncertainties related to the regulatory approval process,
product
development delays, the Company’s ability to attract and retain business
partners and key personnel, future levels of government funding, the Company’s
ability to obtain the capital required for research, operations and marketing
and other risks detailed from time-to-time in the Company’s ongoing quarterly
filings, annual information forms, annual reports and 40-F filings. We
undertake
no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
Lorus
Therapeutics Inc.’s recent press releases are available through the Company’s
Internet site: http://www.lorusthera.com.
%SEDAR:
00002368EF
For
further information: Lorus Therapeutics Inc., Grace Tse, Corporate
Communications, (416) 798-1200 ext. 380, ir@lorusthera.com
Media Contacts: Susana Hsu, Mansfield Communications, (416)
599-0024.