Applied Molecular Evolution (NASDAQ:AMEV)
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AME Stockholders Approve Acquisition By Lilly
SAN DIEGO, Feb. 11 /PRNewswire-FirstCall/ -- Applied Molecular Evolution, Inc.
(AME) announced that, at a special meeting held today, its stockholders voted to
approve the proposed merger transaction with Eli Lilly and Company , under which
AME will become a wholly owned subsidiary of Lilly.
The merger was approved with a significant majority of outstanding shares voted.
Based on preliminary results, out of the 14,114,815 million shares voted,
approximately 99.7 percent were voted in favor of the merger. The merger is
expected to be consummated at the close of business on February 12, 2004 or
shortly thereafter.
About AME
Applied Molecular Evolution, Inc. is a leader in applying directed molecular
evolution to improve healthcare by optimizing and developing human
biotherapeutics. Directed molecular evolution is a process for optimizing genes
and proteins for specific commercial purposes. Since its inception, AME's
principal focus has been on applying its proprietary AMEsystem(TM) technology
platform to human biotherapeutics, the largest market for directed molecular
evolution. Biotherapeutics, or biopharmaceuticals, are protein pharmaceuticals
such as antibodies, cytokines, hormones and enzymes. AME uses its proprietary
technology to develop improved versions of currently marketed, FDA-approved
biopharmaceuticals as well as novel human biotherapeutics.
About Lilly
Eli Lilly and Company, a leading innovation-driven corporation, is developing a
growing portfolio of first-in-class and best-in-class pharmaceutical products by
applying the latest research from its own worldwide laboratories and from
collaborations with eminent scientific organizations. Headquartered in
Indianapolis, Indiana, Lilly provides answers -- through medicines and
information -- for some of the world's most urgent medical needs. Additional
information about Lilly is available at http://www.lilly.com/ .
Forward Looking Statements
This press release containsforward-looking statements that are subject to risks
and uncertainties that could cause actual results to differ materially from
those set forth in the forward-looking statements. The potential risks and
uncertainties include, among other risks, whether Lilly will successfully
complete the acquisition, the reaction of the customers of Lilly and AME to the
acquisition, Lilly's ability to successfully integrate AME's operations and
employees and general economic conditions. These forward-looking statements
represent AME's judgment as of the date of this press release. AME disclaims
any intent or obligation to update these forward-looking statements. More
information about potential factors that could affect AME's business and
financial results is included in AME's Annual Report on Form 10-K for the fiscal
year ended December 31, 2002 and other Securities and Exchange Commission
filings.
For more information, please contact Chris Erdman of AME, +1-858-638-8635.
DATASOURCE: Applied Molecular Evolution, Inc.
CONTACT: Chris Erdman of AME, +1-858-638-8635
Web site: http://www.lilly.com/
Web site: http://www.ame.biz/