SOURCE: Virogen, Inc.

October 29, 2008 01:00 ET

Virogen, Inc. Cancels Forward Split

MINNEAPOLIS, MN--(Marketwire - October 29, 2008) - Virogen, Inc. (PINKSHEETS: VRGI), the developer and patent holder of a revolutionary vaccine to combat Newcastle disease, a deadly disease that kills chickens worldwide, announced that due to the recent turmoil in the markets the company has made the decision to cancel the previously announced forward split indefinitely.

Statement by Paul Hogan, CEO

Paul Hogan, CEO of Virogen, Inc. notes, "Since every production bird in the world is required to be vaccinated, the potential success of the company is still intact, but prudence dictates a conservative approach at this time. Since Virogen's vaccine is breakthrough technology and the most effective Innovo patent-protected product on the market, the company continues to anticipate it will capture this exclusive market for several years. VRGI has prepared for rapid expansion into this worldwide market of approximately 45 billion birds annually (85% of the world market) by establishing a distributor network prior to licensing. With a growth rate of 30% per year and growing, one can anticipate the revenue opportunity for this vaccine is in the tens of millions."

The Company

Virogen is a Minnesota based Corporation formed solely to conduct research, and develop vaccines for the veterinary industry worldwide. The company's flagship product is its Innovo Newcastle Vaccine.

Forward-Looking Statements:

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Virogen, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Investors and potential investors are invited to call Paul Hogan, CEO Virogen, Inc. at (415) 367-4058 to request a copy of the company's complete business plan.

Contact Information

  • Contact:
    Paul Hogan
    Virogen, Inc.
    (415) 367-4058