Japan-based Takara Shuzo Co. Ltd. has purchased 400,000 shares ofCytel Corp. for $3 million as part of an agreement between the twocompanies to develop Cytel's Theradigm technology for a non-viralinfectious disease target.Karin Estham, Cytel's chief financial officer and vice president offinance, said the San Diego-based company entered into a collaborationwith Takara in June. In addition to the equity investment, Takara isproviding research funds to Cytel and will pay royalties on productsmarketed in Japan. Cytel retains North American rights to drugsdeveloped during the collaboration and the two companies will sharerights in the rest of the world.Estham said the stock purchase gives Takara, of Kyoto, a 2 percentinterest in Cytel, which now has 17 million shares outstanding.Estham said the collaboration is Cytel's second with a Japanesecompany. Cytel has an ongoing agreement with Sumitumo ChemicalCo. Ltd., of Tokyo, which is expected to make an equity investmentlater this year._ Charles Craig
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