ASSET PURCHASE AGREEMENT







                             GOVERNING THE PURCHASE



                                       OF



                            CERTAIN OF THE ASSETS OF



                               SHIRE BIOCHEM INC.



                                       BY



                           ID BIOMEDICAL CORPORATION















                              DATED APRIL 19, 2004







{PAGE}





                                TABLE OF CONTENTS





Article 1 - INTERPRETATION.................................................... 1



     1.1    Definitions........................................................1

     1.2    Other Defined Terms...............................................11

     1.3    Schedules.........................................................12

     1.4    Interpretation....................................................13



Article 2 - PURCHASE OF ASSETS................................................14



     2.1    Purchase and Sale.................................................14

     2.2    Consideration.....................................................14

     2.3    Payment of Consideration..........................................14

     2.4    Assignment of Contracts...........................................15

     2.5    Adjustments to Reflect Fluctuations in Purchaser's Stock

            Price.............................................................15

     2.6    Working Capital Adjustments.......................................15

     2.7    Net Operating Cash Adjustments....................................16

     2.8    Additional Adjustments for TPC Receivables........................17

     2.9    Taxes on Sale and Transfer........................................18

     2.10   Amounts Paid for Undertaking Future Obligations...................18

     2.11   Sale Tax Elections................................................18



Article 3 - ASSUMPTION OF OBLIGATIONS AND LIABILITIES.........................19



     3.1    Assumption of Obligations and Liabilities.........................19

     3.2    Excluded Obligations and Liabilities..............................19

     3.3    Product Liability and Warranty Obligations........................19

     3.4    Risk of Loss and Damage Prior to Closing..........................19



Article 4 - REPRESENTATIONS AND WARRANTIES OF THE VENDOR......................20



     4.1    Corporate Status and Authority....................................20

     4.2    Assets............................................................21

     4.3    Business Operations...............................................23

     4.4    Intellectual Property.............................................23

     4.5    Financial.........................................................24

     4.6    Insurance.........................................................24

     4.7    Environment.......................................................25

     4.8    Tax Matters.......................................................26

     4.9    Employee Matters..................................................26

     4.10   Non-Compliance....................................................27

     4.11   Contracts and Commitments.........................................28



{PAGE}





     4.12   Consents and Approvals............................................28

     4.13   Finder's Fees.....................................................28

     4.14   Transactions with Affiliates......................................28

     4.15   All Assets........................................................28

     4.16   Construction Projects.............................................28



Article 5 - REPRESENTATIONS AND WARRANTIES OF THE PURCHASER...................29

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC