SmithKline Beecham (NYSE:SB) and IGI Inc. (ASE:IG) announcedMonday that they have entered into an agreement under whichSmithKline Beecham (SKB) will test Buena, N.J.-based IGI'spatented Novasomer lipid vesicle encapsulation technology as avehicle to formulate various SB human vaccines.
SB of Rixensart, Belgium, will pay IGI certain of itsdevelopment expenses and invest $1 million in newly issuedshares of IGI's common stock at the current market price. Atthe conclusion of the joint study, if the results are mutuallyacceptable and other conditions are met, SKB will have theexclusive option of entering into a license agreement for use ofNovasome encapsulation technology for formulation of certainSKB vaccines.
Novasome lipid vesicles are microscopic spheres used to deliverpharmaceutical, cosmetics, personal care products, flavors,paints, pesticides and other materials. They may also be usedto deliver genetic material and vaccines and to stimulate theimmune system.
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