Immulabs Corporation Announces New Business Venture and Change in Majority Ownership
SCANDIA, MN -- Oct. 23, 2000 -- Immulabs Corporation (OTCBB:IMLB), announces today that pursuant to its restructuring and incubation strategy, significant majority ownership of Immulabs has been purchased from CEO, Ben Traub, by AGGRESSIVE AMERICAN CAPITAL PARTNERS, INC. ("Aggressive American"), a company based in Reno, Nevada.
Aggressive American, headed by President and CEO Bruce Deildal, is a privately-held corporation which possesses the rights to acquire certain high-potential biotechnology projects. These rights are now being assigned to Immulabs in connection with the purchase of the majority stake by Aggressive American.
Ben Traub, President and CEO of Immulabs, stated, "The business opportunity which Aggressive American brings to Immulabs is extremely exciting. The details of this biotechnology opportunity will not be publicly released until the Company has received necessary confirmations from its scientific and legal advisors; however, I can say that the project is believed to have cutting-edge implications and enormous revenue potential. Although it's an early-stage speculative project, the commercialization possibilities make this a very exciting undertaking for the Company and I am very pleased with the transaction. It's precisely the break-through opportunity that we've been searching for".
Background:
Immulabs' strategy is to acquire Biotechnology or Biomedical companies or technologies that provide a unique and valuable benefit to the immune system and which are significantly developed and nearing market readiness. Immulabs intends to provide an infrastructure for global commercialization of such technologies.
Immulabs' management company, Cyclone Financing Group Inc. (CFGi), continues in its role of incubating Immulabs, which includes advancing the corporate vision, facilitating and advising on the acquisition of a high-potential business opportunity to match that vision, recruiting a senior management team to build the resulting business into a global presence, and laying the foundation for a future listing on a major exchange.
Nasdaq Index firms in the biotechnology industry that are primarily involved in the use of biological processes to develop products or provide services include Amgen Inc. (NASDAQ:AMGN), Biogen, Inc. (NASDAQ:BGEN), Genzyme Corporation (NASDAQ:GENZ), Human Genome Sciences, Inc.( NASDAQ:HGSI), Immunex Corporation (NASDAQ:IMNX), Medimmune Inc. (NASDAQ:MEDI).
CONTACT:
Immulabs Corporation
Mark Sommer,
888/763-6547 or 604-646-5516
www.immulabs.com |
