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Paladin continues to develop ViRexx's proprietary Chimigen platform for hepatitis B, hepatitis C and other indications. In addition, Paladin is in active discussions for the license or sale of ViRexx's AIT technology platform.
Joe Walewicz, vice president of special projects at Paladin Labs, said: "The turmoil in the financial markets has presented incredible opportunities to purchase innovative research at attractive prices as evidenced by our acquisition of ViRexx Medical in December of 2008.
"The sale of the T-ACT technology platform to IMBio for a cash payment and future royalties allows us to quickly realize value on this promising technology, and places the technology with those best positioned to succeed."
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