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Last $0.0007 USD
Change Today 0.00 / 0.00%
Volume 0.0
VPRO On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 06/29/15 All times are local (Market data is delayed by at least 15 minutes).

viropro inc (VPRO) Snapshot

Open
$0.0007
Previous Close
$0.0007
Day High
$0.0007
Day Low
$0.0007
52 Week High
09/10/14 - $0.01
52 Week Low
06/15/15 - $0.0006
Market Cap
819.6K
Average Volume 10 Days
78.7K
EPS TTM
--
Shares Outstanding
1.2B
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for VIROPRO INC (VPRO)

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viropro inc (VPRO) Details

Viropro Inc., through its subsidiaries, is engaged in the contract research, development, and manufacture of biotherapeutic proteins for the treatment of various diseases. The company is also involved in the transfer of its proprietary technologies for industrial production of biogeneric therapeutic proteins for the treatment of various diseases, such as cancer, diabetes, hepatitis, or multiple sclerosis. It manufactures biologics drugs, including bio-similars for pre-clinical, and Phase I, II, and III clinical trials; offers its clients with supplies of mammalian cell proteins, such as monoclonal antibodies or recombinant proteins, or other cell-derived products; owns three clones that include two in insulin therapy and one for cancer therapy; and provides contractual research and manufacturing services to biotech and biopharmaceutical companies. The company’s contractual work activities include cloning, sequencing, purifying, developing, validating, and producing biopharmaceutical products and sub-products. It has operations in Canada, the United Kingdom, and Malaysia. The company has collaboration agreement with Oncobiologics, Inc. to manufacture and commercialize monoclonal antibody products. Viropro Inc. is based in Poway, California.

viropro inc (VPRO) Top Compensated Officers

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Executives, Board Directors

viropro inc (VPRO) Key Developments

Viropro Announces Plan for Restructuring

Viropro Inc. announced that its Board of Directors completed its strategic review and has begun the implementation of a restructuring designed to restore the company to financial health. The company's internal review was carried out in response to the recent events in Malaysia, including a series of break-ins at the Alpha Biologics facility in Penang caused in part by previous management's failure to pay utility bills and provide adequate security. Subsequent to that, the facility was seized by Bank Pembangunan Malaysia Berhad (BPMB), which appointed PricewaterhouseCoopers Advisory Services Sdn Bhd (PWC) as Receiver and Manager. PWC then initiated a sale of substantially all of the assets of Alpha as a means of recovering BPMB's outstanding loan to Alpha, without regard to the company's other creditors. Viropro regards the sale as ill-advised and potentially in contravention of Malaysian and U.S. law. PWC has not provided information to Viropro as to the status of its proposed sale. Viropro is continuing to review its available remedies to address its concerns, including the lack of notice about the liquidation of Alpha, the potential increased liability for Alpha by the failure of the liquidation notice to accurately describe the condition of the equipment and whether the sale could be halted to preclude further loss of the value of Alpha to the Viropro shareholders. The company's Board of Directors has concluded that it is prudent to recognize the substantial loss of value associated with the physical damage to the facility, the seizure by BPMB and the intended sale of the company's equipment by PWC. Accordingly, Viropro intends to write off the remaining book value of Alpha's facility when it completes its financial statements for 2014. The completion of those financial statements is pending the results of litigation the company has initiated against Ms. Cynthia Tsai regarding her failure to comply with the Court Order compelling her to turn-over her files and e-mail messages pertaining to her tenure as Chairman and CEO of Viropro. A hearing on the company's motion is scheduled for February 4, 2015. While it is possible that Viropro may recover some or all of the assets of Alpha, the Board of Directors has concluded that the best way to create value for Viropro shareholders is to initiate a series of acquisitions in order to provide Viropro shareholders with a risk-diversified exposure to a number of promising businesses with significant potential upside. Target companies will fall into one of two asset categories: those with current or near-term revenues and those with clinical stage drug development assets. The company has engaged in discussions with six target companies and has provided those companies with preliminary letters of intent describing the proposed transactions. In most cases, Viropro will acquire all of the shares of each target company in exchange for Viropro stock, coincident with Viropro raising sufficient capital to advance the company's products to a relevant milestone. The Board's objective is to close the first such transaction, subject to full diligence and shareholder approval, in the first-half of 2015.

Viropro Inc. Announces Executive Changes

Viropro Inc. announced that it has a new Board of Directors as a result of an order of the Supreme Court of the State of New York in a challenge by a majority of the Viropro shareholders to the management of company. On May 27, 2014 in a case styled Spring Hill Bioventures SDN BHD, derivatively and on behalf of company v. Cynthia Ekberg Tsai and Richard Serbin (Index No. 654167/2013), New York State Supreme Court Justice Eileen Bransten ordered that the will of the majority of company shareholders in a written consent dated March 27, 2014 be enforced and that Cynthia Ekberg Tsai and Richard Serbin, whose terms as directors had expired, be replaced by Bruce A. Cohen, Kenneth A. Sorensen and Michelle L. E. Peake. In addition, Justice Bransten ordered Cynthia Ekberg Tsai, the President and CEO of company at the time of this court Order, to turn over all documents and incidents of control over company, including all information about company's accounts and access to them, to the new Board of Directors. The new Board of Directors terminated Cynthia Ekberg Tsai as President and CEO of company and appointed Joseph J. Vallner as Acting President and Bruce A. Cohen as Chairman of the Board. Dr. Vallner has served as Founder and CEO of ORUUS Pharma and CEO of Lumera Corp. Dr. Vallner was its CEO, and President and CEO of Capnia. Dr. Vallner previously served as President and COO of Gell Genesys and as EVP and COO of SEQUUS Pharmaceuticals. Mr. Cohen was the founding President and CEO of Acacia BioSciences, Cellerant Therapeutics and VitaPath Genetics. He also served as CFO of GeneSoft Pharmaceuticals, VP at SEQUUS Pharmaceuticals and in several positions at Baxter. Mr. Cohen was the President and COO of ViTel International and a management consultant with Monitor company.

Viropro Inc. Announces Resignation of Deborah O'Shea as General Counsel and Chief Operating Officer

On September 15, 2013, Deborah O'Shea, General Counsel and Chief Operating Officer (COO) of Viropro, resigned.

 

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