Aviron finds deep Korean pockets

As companies search for sources of financing that allow them to do more than merely survive, kudos go to those that can come up with untapped, deep pockets partners. Aviron has done just that, announcing a collaboration with Sang-A, a Korean pharmaceutical company and member of the Hanbo Group conglomerate.

Sang-A will make an equity investment for 10 percent to 25 percent of Aviron, and the Korean company will participate in future financings. The deal covers Aviron's vaccine programs in influenza, herpes simplex virus, cytomegalovirus, varicella zoster virus and respiratory syncytial virus. Sang-A has marketing rights in North and South Korea, and the right to supply a portion of Aviron's needs in a number of other markets. Other terms weren't disclosed...