PharmAthene acquiring Avecia's biodefense vaccines

Biodefense company PharmAthene (AMEX:PIP) will acquire all assets and IP related to Avecia's biodefense vaccines business. The deal gives PharmAthene a second-generation recombinant protective antigen (rPA) anthrax vaccine that has completed Phase II testing; a recombinant dual antigen plague vaccine in Phase II testing; and a preclinical third-generation rPA anthrax vaccine. Avecia (Manchester, U.K.) will receive $20 million and is eligible for $20 million in milestones, plus royalties. ...