Alpha Innotech Corp (APNO)

[findit]

Maybe a IOMI type merger could happen to APNO. IOMI was less than a buck a few months back. Now it is being bought for $6.60.

Mon May 12, 2008 6:54pm EDT

WASHINGTON (Reuters) - Austrian vaccine maker Intercell (ICEL.VI) said on Monday it was acquiring Maryland- based Iomai Corp (IOMI), a small biotechnology company trying to develop needle-free vaccines.

"The deal creates a leading traveler's vaccine portfolio by combining Intercell's Japanese encephalitis vaccine with Iomai's needle-free travelers' diarrhea vaccine," the company said in a statement.

"The Travelers' diarrhea vaccine is planned to enter pivotal Phase III trials in the first half of 2009 and is based on the only advanced needle-free vaccine patch technology in the industry. Through the transaction Intercell gains access to a further product generating technology platform."

Intercell said it would accomplish the deal through a share/cash transaction for $6.60 per share of Iomai's common stock representing a fully diluted equity value of Iomai of $189 million (EUR 122 million).