Fairness opinion from Swiss based Venture Valuation for the reverse merger of Arpida and Evolva

Online, December 16, 2009 (Newswire.com) - ZURICH, December 2009 - Swiss based Venture Valuation has provided the fairness opinion for one of the top deals in the Swiss Biotech Industry - the reverse merger of Arpida and Evolva. Venture Valuation confirmed to the public shareholders of Arpida that the proposed terms of the deal are fair based on an independent assessment and valuation.

For the proposed reverse merger between publicly listed Arpida and privately held Evolva, the management of Arpida asked Venture Valuation to provide an independent fairness opinion on the value of Evolva and to provide the shareholders of Arpida with assurance that the assets and potential of the Basel based Evolva represent the price Arpida is offering. Dr. Patrik Frei, CEO of Venture Valuation stated: "For us this has been a very interesting project and allowed us to use our 10 years of experience in assessing and valuating biotech companies. Since our foundation and first project for the Novartis Venture Fund, it has been our strategy to provide our clients and partners with an independent valuation of a company or product".

The merger of Evolva and Arpida was supported by the extraordinary shareholders meeting on November 26th 2009 and thus shareholders of Arpida confirmed their belief in the value of Evolva.

For further information please contact: Dr. Patrik Frei, CEO, Venture Valuation Inc, Switzerland, +41 (43) 321 8660, p.frei (at) venturevaluation.com.