Algene, Myriad Genetics deal

The companies agreed in principle that MYGN will fund genetic research at AGN.B in three undisclosed areas of interest for MYGN. MYGN will receive worldwide exclusive rights to the resulting compounds and AGN.B will be eligible for royalties. MYGN will provide the funding via C$5 million (US$3.3 million) in debentures issued over three years at 6 percent interest. The debentures are convertible at MYGN's option into AGN.B equity. AGN.B has 43.7 million shares outstanding. ...