Pacgen Biopharmaceuticals Corporation cancelled the acquisition of the business and operating assets of CurieMed Corporation from General Biologicals Corporation.

Pacgen Biopharmaceuticals Corporation (TSXV:PGA) signed a non-binding letter of intent to acquire the business and operating assets of CurieMed Corporation from General Biologicals Corporation (GTSM:4117) on March 14, 2011. Pacgen plans to leverage this arrangement to facilitate its corporate transformation into a self-sustained revenue generating company. CurieMed has annual revenues over TWD 60 million. Pacgen will raise a bridge financing to finance its operations to the completion of the acquisition. The transaction remains subject to the negotiation of a definitive agreement between Pacgen and CurieMed, a third party assessment for pricing and certain other conditions. Pacgen Biopharmaceuticals Corporation (TSXV:PGA) cancelled the acquisition of the business and operating assets of CurieMed Corporation from General Biologicals Corporation (GTSM:4117) on March 14, 2012.