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Antex Plans For Reorganization Under Chapter 11

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Exhibit 99.1 FOR IMMEDIATE RELEASE Contact: Jeffrey V. Pirone
Antex Biologics Inc.
(301) 590-0129
www.antexbiologics.com Kim Brennen Root
BioPort Corporation
(517) 327-1543
www.bioport.com


ANTEX PLANS FOR REORGANIZATION UNDER CHAPTER 11 OF THE U.S. BANKRUPTCY CODE

BioPort Corporation Now to Acquire Antex's Assets under Pre-Arranged Filing

GAITHERSBURG, MD, March 27, 2003 Antex Biologics Inc. (AMEX: ANX) today announced that it, along with its wholly-owned subsidiary Antex Pharma Inc., has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Maryland Court District to facilitate the sale of its assets.

On March 17, 2003, Antex announced that it had entered into a non-binding letter of intent and a loan agreement with BioPort Corporation ("BioPort"), a privately held company headquartered in Lansing, Michigan. Pursuant to the non-binding letter of intent, BioPort would acquire all Antex's assets. The loan agreement provided for BioPort's discretionary funding of up to $1 million to support Antex's operations prior to the completion of the acquisition. BioPort has advanced the Company approximately $300,000 to date under the loan agreement. The acquisition was contingen
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