Cytel deal

CYTL and Takara Shuzo Co. Ltd., Biomedical Group (Japan) will develop a drug based on CYTL's Theradigm technology for a non-viral, infectious disease target. The companies also signed a letter of intent to jointly develop CYTL's ex vivo cellular therapy to treat cancer.

Under the first agreement, Takara will purchase $3 million of CYTL stock at no less than $7.50 a share, and will provide research funding and royalties in exchange for rights to develop, manufacture and market in Japan pharmaceuticals resulting from the collaboration. CYTL has 16.4 million shares prior to the investment. ...