North American Vaccine Inc., still waiting for results of a Phase IIItrial in Sweden, sold 1.1 million shares it held in BioChem PharmaInc. for $10.2 million.The Beltsville, Md., company netted $9.3 million from the sale, andstill holds 695,936 shares of BioChem Pharma. North AmericanVaccine is "hopeful results will be forthcoming shortly" for itsstudy of a Diptheria/Tetanus/ Acellular Pertussis (DTAP) vaccine,Daniel Abdun-Nabi, the company's vice president, legal affairs andgeneral counsel, told BioWorld.He said the stock sale is "consistent with the previously disclosedplan to dispose of those shares as needed." Some of the proceedsfrom the sale will go toward expanding a facility for the productionof the DTAP vaccine.Abdun-Nabi said about $7.3 million is earmarked for themodifications, which are expected to be completed in the firstquarter of 1995. North American Vaccine reported that it had about$13.9 million in cash on June 30, and expected to spend about $3.7million in each of the final two quarters of the year.BioChem Pharma, of Laval, Quebec, holds about 13.3 millionshares, or 38 percent, of North American Vaccine. It said the shareswere purchased privately by 13 investors, led by the Caisse dedepot et placement du Quebec, an institutional investor, whichpreviously held 7.4 percent of BioChem Pharma. Purchasersincluded senior BioChem Pharma executives, the company said. _Jim Shrine
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