Vitex Closes Merger with Panacos Pharmaceuticals $20 Million Financing Also Closed and Funded

News | 03. 11. 2005

Panacos Pharmaceuticals

V.I. Technologies, Inc. (Nasdaq: VITX) (“Vitex” or “the Company”), a biotechnology company dedicated to developing the next generation of anti-infective
therapeutics, today announced that it has closed its previously announced merger with Panacos Pharmaceuticals. Under the terms of the merger, Vitex will issue approximately 227.5 million shares to Panacos stockholders to acquire all of the outstanding shares of Panacos.