Novopharm Biotech Inc., BreasTek Inc. deal

The companies will collaborate to develop a monitoring test for breast cancer. NVO will provide BreasTek with $2.2 million in research funding over two years. A third year of funding is possible.

If the project is successful, NVO said it may conclude a merger that could involve BreasTek receiving NVO common shares based on an agreed upon BreasTek value of $12 million up to two years, $10 million between two and 2.5 years, and $8 million up to three years thereafter. ...