Univax Stops Biotech Activities Pending Litigation
Univax Biologicals has said that the various companies of the BioPlex Group - which had executed a commitment letter with it in July to finance, construct and lease a new manufacturing and research facility - have stopped all activities in the biotechnology field because of pending litigation. Any efforts by BioPlex on behalf of Univax have therefore ceased.
Univax president Thomas Stagnaro said the company is looking for other funding sources for the planned manufacturing facilities to bring its products to market. While a new plant is an attractive opportunity, he said, if need be the company's research, development and administrative activities can remain for an extended period in their current location.
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