Shire BioChem sells vaccines business to ID Biomedical 

Date Closed: 4/19/2004

Value: Undisclosed

Shire BioChem Inc., a wholly-owned subsidiary of Shire Pharmaceuticals Group plc, signed an asset purchase agreement on April 19, 2004 to sell its vaccines business to ID Biomedical Corp., a Canadian-based biotechnology company, for an aggregate phased consideration of US$120 million. As part of the agreement, Shire will provide a US$100 million loan facility to help fund the development of the vaccines business, which will be repayable out of income generated on future sales.

ID Biomedical was represented by BLG, with a team that included Ian Webb, Warren Learmonth and Fred Enns (corporate/securities), Donald Bird and Pierre Côté (financing), Jeffrey Thomas (competition/Investment Canada), Christine Dubreuil Duchaine (environmental) and Andrew Loh (intellectual property).