PROCYON REPORTS NEW ACQUISITION AT ANNUAL MEETING

At its Annual and Special Shareholders' meeting, Procyon Biopharma reviewed the highlights of its 2004 fiscal year. During the meeting the company also announced the acquisition of Bioxalis Medica, a Montreal-based biopharmaceutical company committed to the development of a new Tumor Vasculature Targeting (TVT) technology with a concurrent financing. Procyon's acquisition of Bioxalis and the TVT technology reflects the company's ability to again capitalize on attractive opportunities, while remaining conscious of the associated risks involved with building a balanced portfolio of promising complementary products in the areas of oncology and HIV/AIDS.

PharmaLive (http://www.medadnews.com/News/Index.cfm?articleid=252908)