Cambridge Biotech Corp. cancer, infectious diseases/aids news

The U.S. Backruptcy Court confirmed the company's plan of reorganization under Chapter 11 (see BioCentury April 15 and April 22). In the next 30 days, CBCXQ plans to sell its retroviral diagnostics business to bioMerieux Vitek Inc. for $6.5 million in cash, and issue new stock in a replacement entity, Aquila Biopharmaceuticals, in exchange for CBCXQ stock. Aquila, initially capitalized with 5 million shares of common, will develop immunotherapeutics, including Stimulon adjuvants and vaccines for infectious diseases and cancer. ...