Celldex acquires Lorantis, Alteris

In two separate deals, therapeutic vaccines company Celldex (Bloomsbury, N.J.) acquired Lorantis (Cambridge, U.K.) for 6.8 million shares and the assets of Alteris (Philadelphia, Penn.) for 1.2 million shares, $1.5 million in cash and milestones and other payments.

Lorantis' lead program is its HepVax HBV vaccine, which is expected to enter Phase I testing in the first quarter of 2006. The company also has protein therapeutics that are based on the Notch signaling pathway in preclinical development to treat immune disorders. LOR-S03, the lead Notch compound, is expected to begin Phase I testing at the end of next year. Lorantis also brings with it $30 million in cash. ...