Immuno Research Inc.
TSX VENTURE : IRI

May 30, 2006 19:03 ET

Immuno Research Inc. Announces Signing of Asset Purchase Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2006) - Immuno Research Inc. (TSX VENTURE:IRI) is pleased to announce the signing of an Asset Purchase Agreement dated May 26, 2006, whereby Immuno agrees to acquire a 100 percent interest in the property, plant and equipment, associated contracts and intellectual property of Isotech Research Inc., Vanderpol Egg Products Inc., and Immune Biotech, Inc., collectively referred to as the "Alberta Group", headquartered in Airdrie, Alberta. This agreement remains subject to the satisfactory completion of due diligence and regulatory approval.

Under the terms of the agreement, Immuno shall pay the Alberta Group the appraised asset value of $1,921,325 with 4,000,000 shares of the Common Stock of Immuno, such shares to be issued from treasury, at a deemed price of $0.4803 per share.

"This is the first of a series of acquisitions to significantly increase the production of general antibodies and enable Immuno to aggressively enter the specific antibodies market place," says John Mason, President and CEO of Immuno. "It also provides us with another source of Immunoglobulin antibodies, namely egg yolk, as an alternative to bovine whey, a by-product of cheese production. Immuno will be in the enviable position of being the only significant producer of commercially available antibodies."

About Immuno Research Inc.

Immuno produces general (broad spectrum) Immunoglobulin antibodies from bovine whey. The acquisition of the Alberta Group assets enables Immuno to enter the antibody specific market and expand its extraction capabilities of general antibodies by incorporating its unique ion exchange purification process to the extraction of antibodies from eggs. The newly acquired production facilities can be operated twenty-four hours a day and will significantly improve Immuno's production capabilities.

About Alberta Group

The Alberta Group extracts and processes specific Immunoglobulin antibodies from chicken eggs. The Alberta Group is fifty percent owned by the Alberta Egg Producers Cooperative and comprises the following companies - details as follows:

Vanderpol Egg Products Inc. is a CFIA (Canadian Food Inspection Agency) approved egg breaking facility with annual revenues of over $4,500,000.

Isotech Research Inc. operates a protein separation facility with technology to separate water soluble proteins (Immunoglobulin antibodies) from egg yolk. The operations are currently undergoing certification by CFIA.

Immune Biotech Inc. develops and produces vaccines that are specifically related to the hyperimmunising and development of antibody specific Immunoglobulins. Its revenues are derived solely from Isotech Research Inc. The company is capable of developing antibody specific Immunoglobulin for most virus and bacteria related health issues.

On behalf of the Board of Directors, John Mason, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ascenta Capital Partners Inc.
    Francis Reynolds
    Investor Relations
    (604) 684-4743 ext. 28 or Toll Free: 1-866-684-4743 ext. 28
    francis@ascentacapital.com
    or
    Immuno Research Inc. - Vancouver Office
    John Mason
    (604) 807-8694
    (604) 926-1485 (FAX)
    jmason99@shaw.ca