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Cytel vaccine company spin-off seeking partner for Theradigm-HBV development.

Executive Summary

CYTEL VACCINE COMPANY SPIN-OFF WILL FOCUS ON CANCER, INFECTIOUS DISEASE, Cytel said in announcing a plan to separate vaccines from its pharmaceutical and carbohydrate product core. The new vaccine company will continue programs initiated at Cytel focused on immunology and epitope-based immune stimulation, Cytel said, and capitalize "on the immunology research expertise developed to support its Theradigm program." Cytel is considering a public spin-off structure and other financing opportunities for the new company. The spin-off plan was announced April 9.
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