Peptide's day of deals

Peptide Therapeutics (LSE:PTE) on Wednesday announced a deal under which Baxter (BAX) would end up owning about 20 percent of PTE. At the same time, PTE said that merger talks with Cantab (LSE:CTB; CNTBY) had been terminated.

PTE granted BAX an exclusive three-year option to distribute the biotech company's Arilvax yellow fever vaccine in the U.S. The companies would share profits if the option is exercised. PTE, which previously had said it expected to file a BLA for the product this year, said it now expects to file in mid-2001 (see BioCentury, June 12). ...