May 10, 2010 (FinancialWire) — A5 Labs (OTC.BB: AFLB) said that it has signed a letter of intent to acquire contract research assets and a novel interferon production technology from Vida Pharma, which is based in Montreal, Canada.

The all share transaction is scheduled to close on or before June 15, 2010.

According to A5, the CRO assets include all equipment and fixtures and all intellectual properties including analytical methods, laboratory information management system, standard operating procedures and list of customers.

The interferon production technology includes all know how and data from previous clinical trials related to the production of gamma interferon, according to A5.

Canada-based A5 labs is a contract research based organization servicing the pharmaceutical and biotechnology companies in North America. The company utilizes its research capabilities to license and acquire novel biotechnology products for development and commercialization.

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