Avecia Group plc, PharmAthene deal
Biodefense company PharmAthene will acquire all assets and IP related to Avecia's biodefense vaccines business for $10 million at closing, another $10 million within 12 months of closing, and up to $20 million in milestones. The deal is expected to close by April 2.
PharmAthene gets 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. The vaccines are being developed under FDA's animal efficacy rule, which allows marketing approval to be based on efficacy data from animal models and safety data in humans. Avecia, a contract manufacturing company with no other clinical candidates, is eligible for royalties. ...