Court Denies AltaRex's Motion Against Biomira
EDMONTON, April 15 /CNW/ - Biomira Inc. (NASDAQ: BIOM) (TSE, ME: BRA)
announced today that the Alberta Court of Queen's Bench denied the motion
filed yesterday by AltaRex Corporation for further and better particulars in
regard to Biomira's Statement of Claim filed with the Court on February 25,
1999. Biomira now looks forward to the timely receipt of a Statement of
Defense from AltaRex and to proceeding expeditiously with this matter. Biomira
and AltaRex are engaged in a legal dispute regarding ownership of the
technology outlined in a patent application filed by AltaRex but which Biomira
maintains was developed at Biomira.
''Biomira is satisfied this matter will now be resolved in normal due
course as we move forward to the trial and we are confident we will prevail,''
said Alex McPherson, M.D., Ph.D., President and CEO of Biomira.
Biomira is a biotechnology company specializing in the development of
innovative therapeutic approaches to cancer management. The commitment to the
treatment of cancer currently focuses on the development of synthetic vaccines
and novel strategies for cancer immunotherapy. We are the Cancer Vaccine
People(TM).
This release may contain forward-looking statements. Various factors
could cause actual results to differ materially from those projected in
forward-looking statements, including those predicting the timing of clinical
trials or the efficacy of products. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this Cautionary
Statement.
-0- 04/15/1999
For further information: Company Media Contact: Bill Wickson, (780) 490-2818; Media Contact: Brad Miles, (212) 477-9007 ext. 17; Company Investor Relations Contact: Jane Tulloch, (780) 490-2812; Investor Contact: Jonathan Fassberg, (212) 477-9007 ext. 1
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