PharmaCom Biovet Inc. announced that it intends to sell one or more of its business assets to a fully reporting public company with the anticipated result of distributing the proceeds of any such executed deal directly to the company's shareholders in a dividend. Management is in discussions with interested parties, and is undergoing valuation of the company's assets together with customary due diligence. Upon the sale of one or more assets, PharmaCom Biovet shareholders will receive the proceeds of any dividend pro rata while retaining their ownership interest in PharmaCom Biovet. PharmaCom’s CEO, Gary Berthold stated, “The opportunity to have one or more assets purchased by a reporting company offers significant benefits to the company and its shareholders, not only with respect to any dividend, but also by the ability of a fully reporting company to effect continuing mergers and acquisitions, joint ventures and financing to expedite our business assets and technologies.”

PharmaCom Biovet Inc. announced that the company has begun the process to potentially apply and endeavor to receive a minor use/minor species (MUMS) drug approval from the Federal Drug Administration (FDA). Meeting the MUMS requirement is part of the new drug approval process if the company decides to potentially run clinical trials on a histone deacetylase inhibitor for canines with hemangiosarcoma, which the corporation is considering the development of. The histone deacetylase inhibitor would be directed for dogs suffering from an acute type of cancer, canine hemangiosarcoma. The minor use and minor species animal health act became law in 2004. Minor uses are based on there being a small number of animals eligible for treatment with the product in question for the specific intended use. Small numbers have been determined for each of the 7 major species (cows, horses, pigs, chickens, turkeys, dogs, and cats). These have been published in a proposed rule.

PharmaCom BioVet Inc. announced that it is executing a joint venture agreement with a research development company with an intellectual property portfolio. The purpose of this joint venture agreement is to finalize the development of a compound which has the potential to become a viable treatment of specific cancers for companion animals within the veterinary marketplace. The compound is in the family of Histone Deacetylase (HDAC) inhibitors, which binds directly to the catalytic site of the enzyme thereby potentially blocking the substrate access. This compound could have the ability to inhibit class I and class II HDACs and potentially arrest cellular growth in a wide variety of transformed cells.