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Biotech / Medical : North American Vaccine
NVX 1.510-3.8%Oct 31 9:30 AM EST

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To: Don W Stone who wrote ()8/13/1999 9:36:00 PM
From: Paul Lee  Read Replies (1) of 507
 
BioChem Pharma, N Amer Vaccine In
Confidentiality Pact

WASHINGTON -- BioChem Pharma Inc. (BCHE) entered a confidentiality
agreement with North American Vaccine Inc. (NVX) to gain access to
company information.

In a filing Friday with the Securities and Exchange Commission, BioChem,
which has a 41.6% stake in North American Vaccine, said it wants to
evaluate the information in order to determine its future plans with respect to
its stake.

Under the agreement, BioChem agreed to hold confidential all information
received from the company and to refrain from engaging in certain actions.

BioChem, which holds 15.04 million North American Vaccine common
shares, said it is considering a number of plans and proposals.

On Aug. 4, BioChem hired Salomon Smith Barney Canada Inc. as its
financial advisor in connection with a potential transaction with the vaccine
developer.
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