PODGORICA, MONTENEGRO--(Marketwired - Apr 25, 2014) - Neuro-Biotech Corp. (OTC Pink: MRES) (PINKSHEETS: MRES) announced today that Effective Monday, April 28, 2014, there will be a reverse split of 10-1 on MRES stock. Also effective Monday, the corporate name of Neuro-Biotech Corp. will be changed to: The Institute of Biomedical Research Corp.
The Institute of Biomedical Research is an ambitious biomedical business venture whose activities extend from highly diversified scientific research and sophisticated services research and development, quality control and standardisation of pharmaceuticals, (cosmetics and food products) up to major long term biomedical and environmental research projects, as well as the development of new diagnostic technologies and innovative experimental medical treatments. Regulatory certification of new drugs and biomedical products also constitutes important business activities of the Institute. The Institute is essential for the development of Montenegro within the regional and European environment.
Dr. Drasko Pekovic, President of MRES, said, "These changes will enable the Institute to increase its international recognition and prosperous future, This is a large step forward in the further development of the Institute, and increased shareholder value. We are confident that these changes will have a positive effect moving forward. Our facilities are fully prepared to continue and expand their services throughout the European Union and beyond."
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