Business & Finance

Inex receives positive court outcome for spin-out of Tekmira

Published in Medical Verdicts and Law Weekly, December 28th, 2006

INEX Pharmaceuticals Corp. (IEX) announced that the British Columbia Supreme Court issued a favorable written ruling from the November 7 and 8, 2006 hearing with respect to the spin-out of Tekmira Pharmaceuticals Corp.

In its ruling, the court approved the INEX plan of arrangement to transfer all of the company's transferable assets and liabilities to Tekmira. This includes the 2001 agreements that created Protiva Biotherapeutics, Inc., and the ongoing litigation with Protiva.

The court rejected all motions raised by Protiva to block the spin-out of Tekmira.

On September 20, 2006 shareholders of INEX voted 99.3% in favor of...

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Source: Medical Verdicts and Law Weekly (2006-12-28)

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