Cantab, SmithKline Beecham Biologicals s.a. deal

The companies agreed to develop and market CNTBY's TA-GW vaccine for genital warts. CNTBY can receive up to £24 million (US$37 million) in license fees and milestones. SmithKline Beecham Biologicals paid a £3 million license fee, and invested £4 million in CNTBY through the purchase of 470,588 common shares at £8.50. CNTBY has 15.5 million shares outstanding after the investment.

SmithKline Beecham Biologicals receives exclusive worldwide development, manufacturing and marketing rights to the products, and will fund all remaining development costs of the TA-GW programs and their regulatory approval. CNTBY will receive royalties. ...