BioCentury
ARTICLE | Company News

Aquila, VacTex deal

April 20, 1998 7:00 AM UTC

AQLA acquired VacTex, a tuberculosis vaccine developer, for 1.15 million AQLA common shares and a $1.3 million, 7 percent note redeemable after April 13, 1999.

VacTex's immune stimulating lipid antigens from Mycobacterium tuberculosis will be combined with AQLA's Stimulon QS-21adjuvant and tested in an animal model. AQLA, which closed at $5.50 on Friday, has 7 million shares outstanding after the acquisition. AQLA will record a charge of $8.2 million in the second quarter to account for the acquisition. ...