Published on October 22, 2009 at 1:02 AM
AutoImmune Inc. (OTC Bulletin Board: AIMM.OB) today announced that its Board of Directors has authorized the exploration of a full range of strategic alternatives available to the Company in order to enhance shareholder value. AutoImmune has retained Junewicz & Co. as its financial advisor for this evaluation process.
Chairman of the Board and Chief Executive Officer Robert C. Bishop, Ph.D. stated, "AutoImmune's Board of Directors believes that given the recently announced Phase III trial failure of dirucotide, the lead drug covered by AutoImmune's license agreement with BioMS Medical Corporation, it is appropriate and in the best interest of shareholders to retain Junewicz & Co. to explore and evaluate our strategic options. We have asked Junewicz & Co. to pursue all strategic options available to the Company, including, but not limited to, a sale or merger of the Company."
SOURCE AutoImmune Inc.