Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: Chris W. who wrote (2659)	3/22/2000 8:21:00 AM
From: Mike McFarland	Read Replies (2) of 2742

Cistron and Celltech Sign Merger Agreement biz.yahoo.com Celltech will purchase Cistron for $18 million. This includes $8.75 million for intellectual property encompassing anti-interleukin (IL-1) antibodies as treatments for chronic inflammatory disorders and about $9.25 million for Cistron's cash reserves. The purchase will be made with Celltech American Depository Shares, with the price based on the five-day trailing average through March 20. Cistron shareholders will also be entitled to receive up to $3.5 million in cash and $3.5 million in Celltech stock, net of expenses, in the event that Aventis Pasteur, subsidiary of Aventis S.A. exercises the options previously granted by Cistron to acquire exclusive licenses to use the IL-1 technology in developing preventative and therapeutic vaccines. Aventis Pasteur has agreed to pay $3.5 million cash upon exercise of one option or $7 million if both options are exercised.

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