Vaxine makes bid to acquire Protein Sciences

The terms of the proposed offer were not disclosed but include a stock for stock exchange and the assumption of liabilities with a potential total deal value in excess of $60 million.

Nikolai Petrovsky, chairman of Vaxine, said, “We have been following Protein Sciences for some time and are impressed with its vaccine products and patented cell line and rapid progress in bringing their influenza vaccines through the US regulatory process.

“We already are a major collaborator under Protein Sciences in its response to an RFP for a major Biomedical Advanced R&D Authority influenza vaccine contract and we believe that the two companies combined will be in a much stronger position to receive this extremely important contract and bring a range of exciting new vaccines to market.”