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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) October 14, 1998
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INNOVIR LABORATORIES, INC.
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(Exact name of registrant as specified in its charter)
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<S> <C> <C>
Delaware 0-21972 13-3536290
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
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510 East 73rd Street, New York, NY 10021
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (212) 249-4703
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Not Applicable
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(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On October 14, 1998, Innovir Laboratories, Inc. issued the press release
filed herewith as Exhibit 99.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(a) FINANCIAL STATEMENTS
No financial statements are required to be filed as a part of this
report.
(b) PRO FORMA FINANCIAL INFORMATION
No pro forma financial information is required to be filed as a part
of this report.
(c) EXHIBITS
99 Press release, dated October 14, 1998.
All other Items of this report are inapplicable.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Innovir Laboratories, Inc.
Date: October 20, 1998 By:/s/ Francis M. O'Connell
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Name: Francis M. O'Connell
Title: Chief Financial Officer
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EXHIBIT INDEX
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99 Press release, dated October 14, 1998.
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EXHIBIT 99
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FOR IMMEDIATE RELEASE
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Media Contact: Laura A. Mastrangelo
VIMRX Pharmaceuticals
302-998-1734/Pager 800-916-8038
Investor Contact: Dian Griesel, Ph.D.
The Investor Relations Group
212-664-8489
INNOVIR CLOSES NEW YORK OPERATIONS TO FURTHER REDUCE EXPENSES
NEW YORK, NY, October 14, 1998 - Innovir Laboratories, Inc. announced today its
decision to close its New York operations to further reduce operating expenses.
Innovir will move its management and core technology assets to the headquarters
of its majority owner, VIMRX Pharmaceuticals Inc., in Wilmington, Delaware.
Innovir continues to seek partners, investors or purchasers for its oligozyme
technology, including the lead EGS (External Guide Sequence) technology, the
recently discovered FRS/GSFRS (Functional Ribozyme Selection) technology, and
related research programs. Oligozyme technology uses catalytically interactive
oligomers, which are chemically modified RNA molecules that can selectively
destroy disease-causing RNA molecules. The target for Innovir's oligozyme
technology is to assist pharmaceutical researchers with drug discovery target
identification and validation.
In May 1998, Innovir announced a strategic refocusing to conserve limited
capital resources. Since that strategic refocusing, Innovir has begun the
process of closing its two European operations in Gottingen, Germany, and
Cambridge, England.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor"
for certain forward-looking statements. The forward-looking statements contained
in this release are subject to certain risks and uncertainties. Actual results
could differ materially from current expectations. Among the factors which could
affect the Company's actual results and could cause results to differ from those
contained in the forward-looking statements contained herein are: the
development of competing therapies and/or technologies, the terms of any future
strategic alliances or dispositions of technology, the need for additional
capital, and any additional factors described from time to time in the Company's
periodic reports on Form 10-K and 10-Q, and any prospectus describing the
Company's securities.
# # #
NOTE TO INVESTORS AND EDITORS: VIMRX's press releases are available on the
Internet through www.vimrx.com and through BusinessWire's web site at
http://www.businesswire.com. The releases are also available at no charge
through BusinessWire's fax-on-demand service at 800-411-8792.
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