Canada’s Bioniche has entered into a letter of intent to purchase the business and assets of Australia-based Plasvacc Holdings.
The acquisition includes the inventories, properties, plants, equipment and intellectual property of Plasvacc and its subsidiaries.
The deal will meet Bioniche’s objective of selectively acquiring rights to commercially-important animal health products and technologies.
The transaction is conditional upon satisfactory completion of customary due diligence, receipt of regulatory approvals and the signing of definitive transaction documents.
The transaction is expected to close in August 2011.