ADELAIDE, Australia, Oct. 24 /PRNewswire/ -- Vaxine Pty Ltd announced
today that it made an unsolicited bid to acquire Protein Sciences
Corporation, a privately-held vaccine company located in Meriden,
Connecticut USA. The terms of the proposed offer were not disclosed but
include a stock for stock exchange and the assumption of liabilities with a
potential total deal value in excess of U.S. $60 million.
Nikolai Petrovsky, Chairman of Vaxine, said, "We have been following
Protein Sciences for some time and are impressed with its vaccine products
and patented cell line and rapid progress in bringing their influenza
vaccines through the U.S. regulatory process. He added, "We already are a
major collaborator under Protein Sciences in its response to an RFP for a
major BARDA influenza vaccine contract and we believe that the two
companies combined will be in a much stronger position to receive this
extremely important contract and bring a range of exciting new vaccines to
market."
Vaxine is a Australian biopharmaceutical company developing a portfolio
of vaccines, both therapeutic and prophylactic, to treat infectious
diseases, allergy, autoimmunity and cancer. These vaccines are underpinned
by Vaxine's novel technologies which include the Advax range of highly
effective adjuvants which are without peer plus a wide range of novel
vaccine antigens from Vaxine's antigen discovery programs. Vaxine has three
vaccines in human clinical trials plus an extensive range of vaccines at
the late pre-clinical stage; thus establishing a strong pipeline of
promising vaccine products. Vaxine is debt-free and is the recipient of
major vaccine grants and contracts from the U.S. National Institutes of
Health.
http://www.vaxine.com.au
SOURCE Vaxine Pty Ltd
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Related links:
http://www.vaxine.com.au
CONTACT:
Prof. Nikolai Petrovsky, +61-413131635,
nikolai.petrovsky@flinders.edu.au, for Vaxine Pty Ltd
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