Zynaxis deal

ZNXS reached a definitive merger agreement with Secretech Inc., a privately held Birmingham, Ala., developer of oral vaccines, for 3 million shares of ZNXS (see BioCentury, Jan 16).

The Malvern, Mass., company, which is winding down its diagnostic business, expects its post merger burn rate to be about $300,000 a month, down from $600,000-700,000. The merger will add about three employees to the 38 now at ZNXS. ...