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Biotech / Medical : MEDX ... anybody following?
MEDX 31.15-0.3%Nov 3 1:15 PM EST
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From: Icebrg1/13/2009 3:24:16 PM
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Celldex Announces Sale of Poultry Vaccines Business to Lohmann

NEEDHAM, Mass.--(BUSINESS WIRE)--Celldex Therapeutics, Inc. (Nasdaq: CLDX) today announced that it has entered into an agreement to sell its poultry vaccines business to Lohmann Animal Health International (Lohmann). Since 2002, Lohmann has performed all manufacturing, marketing and distribution activities for Celldex’s marketed Megan®Vac 1 and Megan®Egg poultry vaccines and has paid Celldex product royalties. Financial terms of the transaction were not disclosed.

“We continue to focus strategically on our Precision Targeted Immunotherapy Platform and the clinical and preclinical programs that are emerging from this novel approach to immunotherapy,” stated Anthony S. Marucci, President and Chief Executive Officer of Celldex Therapeutics, Inc. “As a result of our focus on human health care, we are pleased to have found an appropriate home for these assets with Lohmann, a leader in the poultry industry in North America, with an extensive product line of vaccines and related products.”

“We are excited to have completed this transaction with Celldex Therapeutics,” said David Zacek, President and Chief Executive Officer of Lohmann Animal Health International. “Megan®Vac 1 and Megan®Egg will remain important vaccines within our growing poultry products business. Lohmann is committed to building a powerful force in the avian health industry.”
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