ID Biomedical, Connaught Laboratories Ltd., Pasteur Merieux Serums & Vaccins S.A. deal

IDBEF's ID Vaccine Corp. subsidiary entered into an agreement under which Pasteur Merieux's Connaught (Toronto) subsidiary received exclusive worldwide rights to develop, manufacture and sell ID Vaccine's tuberculosis vaccine technology.

Pasteur Merieux-Connaught paid $4.5 million, which consists of an equity payment for an undisclosed percentage of ID Vaccine, an upfront license fee and development support payments. The common shares of ID Vaccine are exchangeable into common shares of IDBEF (Vancouver) under certain circumstances. ...