Ventana Biotech Inc
PINK SHEETS : VNTA

Ventana Biotech Inc

December 07, 2009 08:26 ET

Ventana Enters Final Stage of Negotiations

NEW YORK, NEW YORK--(Marketwire - Dec. 7, 2009) - Ventana Biotech Inc. ("Ventana") (PINK SHEETS:VNTA), a biotechnology company developing an appetite-suppressing and stress reducing chewing gum, today announced that it has entered into the final stages of negotiations for the sale of its current IP and product pipeline.

As mentioned in a previous news release Ventana was approached by a US based company listed on the OTCBB early in October for the sale of its IP and Ventana has for the past 6 weeks been going through the due diligence process and the last item outstanding is finishing a full audit which is expected to be done mid December after which Ventana expects to be able to announce the completion of the deal.

The management team wants to highlight that the deal is not yet signed, but Ventana has cleared all points on the due diligence list up until this point and the management team expects to clear the last hurdles in December although it cannot provide any guarantees at this point.

The management team is aware that the company's share price has recently experienced some degree of volatility and wants to ensure its shareholders that the deal as currently being negotiated is based on the long term future value of the IP and not based on the company's volatile share price as experienced over the past 2 months.

The management team is extremely excited about this deal as it enables all Ventana's shareholders to immediately benefit from becoming shareholders in a fully listed OTC company which creates increased amount of transparency, liquidity in the stock, ability to raise fund and higher degree of credibility when dealing with larger biotech companies and partners which all result in increased value creation for the company and its shareholders.

About Ventana Biotech Inc

Ventana is positioning itself as the leading bioscience company in the development and commercial licensure of novel therapeutic medical chewing gum drug treatment. The company leverages cutting-edge research collaborations to achieve breakthroughs in innovative medical chewing gum treatments, and then licenses these patent pending product candidates to Big Pharmaceutical and Biotechnology companies.

FORWARD-LOOKING STATEMENTS:

Statements about Ventana's future expectations and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as the term is defined in the Private Litigation Reform Act of 1995. Ventana's actual results could differ materially from expected results. Ventana does not undertake any obligation to update forward-looking statements to reflect subsequently occurring events or circumstances. Should events occur which materially affect any comments made within this objective; Ventana will appropriately inform the public.

For more information about Ventana Biotech Inc please contact investor@ventanabiotech.com.

Contact Information

  • Ventana Biotech Inc
    Janne Christensen
    CEO
    + 41-44-732-60-59
    BCB 1 Bachstrasse,
    Butschwil CH-9606, Switzerland