OraVax deal

OraVax and Pasteur Merieux Serums & Vaccins S.A. will continue the development of OraVax's portfolio of oral H. pylori vaccines. Pasteur paid an undisclosed license fee and purchased $2.5 million of the Cambridge, Mass., company's series E convertible preferred stock, and will pay milestones. The companies will share equally the R&D and clinical costs, which are estimated to exceed $50 million. Profits will be shared equally. Pasteur and its Connaught Laboratories affiliate are expected to market the vaccines. OraVax will market the vaccine to the U.S. Military and Centers for Disease Control and Prevention. OraVax will manufacture the vaccines needed for the U.S., with Pasteur manufacturing for the non-U.S. markets. ...