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Targeted Genetics acquires Biocontrol

March 18, 2016

Edward Cappabianca, CEO of Biocontrol, said: "We have had strong support for this deal from our shareholders including ??200,000 in financing, which combines Biocontrol with Targeted Genetics. There are many advantages for the combination, not the least of which is Targeted Genetics' expertise in cystic fibrosis and its potential for future revenue streams, coupled with Biocontrol's innovative bacteriophage programs. Together, the enlarged group will have more critical mass and a broader range of technologies. In the future, we aim to be a major contributory force in the battle against antibiotic resistance."

Jeremy Curnock Cook, Chairman of Targeted Genetics, added: "The Board of Targeted Genetics has been planning a significant strategic transaction since we reported our full year results in 2010. As we said at the time of the Offer, we believe the joining of forces with Biocontrol is the best route for Targeted Genetics and its shareholders. Biocontrol has leadership in the bacteriophage field and we believe, that as part of an enlarged group, we can create more shareholder value in a much needed area of medicine."

Rodman & Renshaw, LLC, a wholly owned subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM) served as financial advisor to Biocontrol.

SOURCE Targeted Genetics Corporation