Intercell announces intention to acquire Pelias AG to strengthen its product portfolio and strategic focus
Intercell AG announced its intention to increase its shareholding in the Vienna-based Pelias Biomedical Development AG from currently 46 percent to a shareholding of 100 percent. In an all-share deal, Intercell offers up to 350,000 new Intercell shares, representing about 0.9 percent of Intercell's current share capital, to the remaining private shareholders of Pelias. The transaction, which is subject to certain closing conditions required by Austrian law, is expected to close early 2007.
Pelias develops products and holds certain licenses in the field of vaccines against important pathogens involved in hospital-acquired infections, including a clinical stage Pseudomonas vaccine candidate and a number of antigens, which have been identified by Intercell's proprietary Antigen Identification Program (AIP®).
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