NIM Norwood Imm.

    RNS Number : 5748J
  Norwood Immunology Ld
  05 December 2008
   
    NORWOOD IMMUNOLOGY LIMITED 

    Letter of Intent

    Norwood Immunology Limited and its subsidiaries ('Norwood Immunology' or 'the Group') (AIM:NIM), the Group focused on stem cell
therapies, the rejuvenation and repair of the immune system and the development of virosomal vaccines, today announces that it has signed a
Letter of Intent for the sale of the entire issued share capital in Bestewil Holding B.V. which owns the entire issued share capital of
Virosome Biologicals B.V (the Group's vaccine development business).

    The Letter of Intent sets out the transaction terms that include on completion of the transaction a
    cash payment, the issue to Norwood Immunology of share options and convertible redeemable 
loan notes in the acquirer, the payment of further cash on the achievement of certain development 
milestones and a share of royalties and other payments associated with vaccine development and 
commercialisation for certain of Virosome Biologicals' current development programmes.

    A further announcement will be made in due course.

    For further information please contact:

 Norwood Immunology Limited
 Richard Williams, Chief Executive Officer         +44 (0)7860 295153



 KBC Peel Hunt Ltd (Nominated Adviser and Broker)  +44 (0)207 418 8900
 Capel Irwin
 David Anderson


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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