Inflazyme Pharmaceuticals Ltd.
TSX : IZP

Inflazyme Pharmaceuticals Ltd.

November 21, 2007 15:30 ET

Inflazyme Pharmaceuticals to Commence Trading on the NEX Exchange Under the New Ticker Symbol IZP.H

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2007) - Inflazyme Pharmaceuticals Ltd. (TSX:IZP) today announced that at close of business on Wednesday November 21, 2007, it will no longer trade on the TSX. The Company's common shares will commence trading on the NEX exchange at the opening of the market on Thursday, November 22, 2007 under a new ticker symbol of ("IZP.H").

The reasons that Inflazyme will now trade on the NEX, is because the Company sold the majority of its R&D assets to Biolipox in return for cash and potential milestones, a potential royalty and other payments, and hence is considered to no longer have an active business. The NEX provides a different trading forum for Inflazyme as it seeks to complete a merger transaction, around its remaining assets, for the benefit of its shareholders. Any proposed transaction recommended by Inflazyme's Board of Directors will likely be subject to a shareholder vote. There can be no assurances that such a transaction will be forthcoming.

For more information about the NEX exchange shareholders are invited to visit the NEX web site at www.tsx.com/en/nex.

About Inflazyme

Inflazyme Pharmaceuticals is a biopharmaceutical company in respiratory and inflammatory diseases. Further information on the Company may be obtained from its website at www.inflazyme.com.

This news release contains certain "forward-looking statements" and "forward-looking information" which may include but is not limited to statements in respect of our future financial position or operations. Words like "believe", "intend", "may", "expect", "anticipate", "plan", "should" and other similar expressions are forward-looking statements that involve a number of risks and uncertainties. By their nature, forward-looking statements involve numerous factors, assumptions and estimates, some but not all of the factors that could cause actual results to differ materially from those projected in our forward-looking statements include among others: risks associated with the completion of clinical trials and obtaining regulatory approval to market our products, market acceptance of our technologies and products; our ability to obtain financing; our financial and technical resources relative to those of our competitors; our ability to enforce our intellectual property rights and protect our proprietary technologies; the ability to obtain and develop partnership opportunities; and other risk factors identified from time to time in the Company's regulatory filings. For a further description of the principal risks affecting the Company, see our regulatory filings. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements.

Contact Information

  • Inflazyme Pharmaceuticals Ltd.
    Julie Rezler
    Sr. Director, Corporate Development
    1-800-315-3660 or (604) 279-8511
    (604) 279-8711 (FAX)
    Email: ir@inflazyme.com
    Website: www.inflazyme.com