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Alliance Pharmaceutical
Oxygent maker transfers assets of its subsidiary to MultiCell Technologies
October 9th, 2005
Alliance Pharmaceutical Corp. (ALLP) and its wholly owned subsidiary, Astral, Inc., have transferred substantially all of the assets of Astral and the business of Astral to Astral Therapeutics, Inc., a newly created entity formed solely for this purpose, and to be re-named MultiCell Immunotherapeutics, Inc., (MCTI). In return, Alliance will receive 490,000 shares of MCTI common stock. In addition, MCTI has assumed substantially all of the liabilities and/or obligations of Alliance and Astral related to the business of Astral, and MultiCell Technologies, Inc., (MCET) has guaranteed the repayment and/or performance of these liabilities and/or obligations and will receive...
Source: Managed Care Law Weekly (2005-10-09)
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