BioCentury
ARTICLE | Company News

Alpha 1 Biomedicals, MicroBio Inc. deal

September 18, 1995 7:00 AM UTC

ALBM (Bethesda, Md.) entered into a letter of intent to merge into MicroBio, a company recently formed by The Castle Group of New York. The agreement is contingent upon MicroBio raising $5-$10 million and an agreement with a third party to obtain a license to a technology that is currently in clinical trials.

If the merger is completed, ALBM would issue 24-39 million shares of common stock. ALBM, which closed at $0.531 on Friday, has 9 million shares outstanding and had $2.3 million in cash as of June 30. ...