Planet Biopharmaceuticals, Inc. Divests Assets of Allergy Control Products, Inc.

LIBERTY, Mo. and DANBURY, Conn., Nov. 7, 2011 /PRNewswire/ -- Planet Biopharmaceuticals, Inc. and its wholly owned Subsidiaries (collectively, "Planet"), a privately held specialty pharmaceutical company focused on providing products for allergy and asthma sufferers, today announced that it had completed an asset sale of ALLERGY CONTROL PRODUCTS, INC., a Delaware corporation("ACP") to RH ALLERGY ACQUISITION LLC, a New Jersey limited liability company.

Theron E. Odlaug, Ph. D., CEO and Executive Chairman of Planet, commented, "The sale of this business is in line with our strategy to focus on our allergenic extract business through our wholly owned subsidiaries Antigen Laboratories, Inc. and ALO, Inc.  We plan to merge these two remaining Planet subsidiaries at year-end".

Jeffrey Tauber, Managing Member of RH Allergy Acquisition noted "We are excited about this acquisition as it is a logical extension of our allergy prevention and environmental control business. We look forward to a smooth transition and will continue to maintain ACP's offices in Danbury, Connecticut."

For more information about Antigen Laboratories, Inc, please visit http://www.antigenlab.com/

SOURCE Planet Biopharmaceuticals, Inc.