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Biotech / Medical : VICL (Vical Labs)

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To: tonyt who wrote (414)	11/4/1997 7:13:00 PM
From: tonyt	Read Replies (1) of 1972

SAN DIEGO -(Dow Jones)- Vical Inc. after the stock market closed Tuesday said it signed an agreement granting Merck & Co. certain vaccine development and marketing rights in exchange for a $5 million investment in Vical stock at a premium over fair market value. Vical (VICL), which develops gene-based pharmaceutical products, said Merck (MRK) will receive worldwide rights to market and sell therapeutic vaccines against the HIV virus and the hepatitis B virus using Vical's "naked" DNA technology. Vical may also receive up to $18 million in milestone payments, plus royalties on product sales, if Merck develops products using the technology. Vical may also have the option to co-promote the products in the U.S. Vical had licensed the technology to Merck and others for the development of preventive vaccines, including HIV and hepatitis B. Merck holds a license to use the technology for a therapeutic vaccine against the human papilloma virus (HPV). Copyright (c) 1997 Dow Jones & Company, Inc. All Rights Reserved.

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