Alteris, Celldex, Lorantis deal

In two separate deals, therapeutic vaccines company Celldex acquired Lorantis for 6.8 million shares and the assets of Alteris 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. ...