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Vical receives $1 million from Merial in vaccine collaboration.(Brief Article)
2002 JUN 26 - (NewsRx.com & NewsRx.net) -- Vical, Inc., (VICL) announced that it has received a payment of $1.0 million from Merial, a European-based joint venture between Merck and Co., Inc., (MRK) and Aventis S.A. (AVE), for the exercise of additional options under a 1995 agreement for veterinary preventive infectious disease vaccines.
To date, Vical has received a total of $7.0 million from Merial under the agreement. The $1.0 million payment will be recognized as revenue in the second quarter, and will not change the company's forecast of a net loss between $28 million and $32 million for the full year 2002.
Merial previously had exercised selected options under the agreement, which covers the use of Vical's patented naked DNA technology for preventive vaccines against infectious disease targets in domesticated animals. The agreement does not ...
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Source: HighBeam Research, Vical receives $1 million from Merial in vaccine collaboration.(Brief...