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  • VaxGen, Inc. (VXGN.OB) Completes Merger with diaDexus 0 comments
    Jul 29, 2010 12:17 PM | about stocks: VXGN

    One company that has investors talking is VaxGen, Inc. Located in San Francisco, California, VaxGen is focused on the development and commercialization of patent-protected in vitro diagnostic products that are addressing unmet needs in the battle against cardiovascular disease. Today, VaxGen took a major step towards enhancing its future with the announcement they have completed a merger with diaDexus.

    diaDexus, Inc. is known as a stellar company with the same mission as VaxGen. The two companies will create a corporation that has the potential to help families and the medical community battle and overcome cardiovascular disease.

    As a result of this merger, VaxGen now has 53,067,057 shares of common stock with 19,960,534 being issued to certain diaDexus shareholders. The merger will allow VaxGen shareholders to continue to own 62% of the company with diaDexus, LLC (the successor of diaDexus, Inc. in the transaction) operating as a wholly-owned subsidiary of VaxGen.

    Leading the way at VaxGen is their new President and CEO Patrick Plewman. Commenting on what this merger will mean to the future of VaxGen, Plewman was quoted as saying, “We believe the company has the opportunity for strong revenue growth based on the potential of the PLAC Test and on the cash assets that are being combined in this merger. The PLAC ELISA Test for Lp-PLA2 is the only blood test cleared by the FDA to assess risk for coronary heart disease and ischemic stroke, the #1 and #3 cause of death, respectively, in the United States.”

    To learn more about VaxGen, visit the company website at: vaxgen.com.

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net

    Disclosure: no positions

    Stocks: VXGN
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