CytoMed, LeukoSite deal

LKST will acquire CytoMed in exchange for 1.6 million shares of preferred stock at $11.88 per share. CytoMed shareholders also could receive up to $23.5 million in cash and 84,000 LKST shares for milestones related to CytoMed products. LKST will issue the first 935,000 preferred shares upon closing, expected in February, and issue the remaining 631,000 preferred shares when CytoMed receives a $6 million payment from UCB Pharma Inc. (Smyrna, Ga.) in October (see BioCentury, Nov. 2, 1998). LKST expects to have 13.5 million shares outstanding after these transactions. ...