Cytel, The Scripps Research Institute, Sequel Therapeutics Inc. deal

Sequel, a joint venture established in 1992 by CYTL and Scripps, will be merged into the San Diego company, which will receive all rights to technologies developed by the joint venture, including Theradigm immune stimulation technology and Theradigm-based therapeutic vaccines under development.

CYTL will acquire from Scripps the 13 percent of Sequel it does not currently own for 1.3 million CYTL common shares. CYTL, which has 22.7 million shares outstanding prior to the issuance, closed at $5.812 on Friday. ...