Ventana Biotech Inc
PINK SHEETS : VNTA

Ventana Biotech Inc

March 04, 2010 14:20 ET

Ventana-Status of Negotiations

NEW YORK, NEW YORK--(Marketwire - March 4, 2010) - Ventana Biotech Inc. ("Ventana") (PINK SHEETS:VNTA), a biotechnology company developing an appetite-suppressing and stress reducing chewing gum, announces today that it has terminated negotiations regarding the potential sale of its intellectual property to a third party.

Management of Ventana previously announced in press releases that Ventana was involved in negotiations with an unrelated third party regarding the sale of its intellectual property. The execution of a definitive agreement and consummation of the transaction was subject to the completion of successful due diligence by both parties. As of the date of this press release, management of Ventana has determined that it would not be in the best interests of Ventana or its shareholders to proceed with execution of a definitive agreement and the subsequent consummation of the sale of its intellectual property assets. Management has based its decision upon several factors which arose during the due diligence process.

Management would like to emphasis that it is currently engaged in seeking and identifying other alternatives that would be better suited and in the best interests for Ventana 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