T Cell Sciences & VRI Merger Completed
T Cell Science and Virus Research Institute have both receivedshareholder approval to merge into a new group, Avant Immunotherapeutics (Marketletter May 18). The new company has started trading on the Nasdaq stock market.
Una Ryan, Avant's chief executive, said that the merger positions the company to be a world leader in immunotherapeutics. The company currently has five established alliances with major firms, including Novartis and SmithKline Beecham, and should now be able to take advantage of "multiple opportunities for forming new partnerships," she added.
Avant, which has four products in clinical development together with its partners, has a workforce of 80 and the new company will have its headquarters in Needham, Massachusetts
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