Hyal, SkyePharma deal

SKP will acquire HYALF, including its 12 percent subordinated debentures, for $4.1 million in SKP stock, with $3.4 million worth of shares payable upon closing of the acquisition and the balance of $688,000 worth of shares payable upon FDA approval of HYALF's Solarase, a topical gel to treat actinic keratosis. If FDA approval of Solarase occurs by Dec. 31, 2000, SKP will pay HYALF shareholders C$0.07 per share in cash. In addition, SKP will provide HYALF interim financing of C$750,000 until HYALF's shareholders approve the agreement. ...