AMSTERDAM, 02/12/05 - Biotechnology company Crucell wants to acquire the Swiss vaccine company Berna Biotech. The Dutch company is prepared to offer nearly 600 million Swiss francs (381.3 million euros).

The acquisition will be effected via a share swap. The company will issue around 17 million shares for the purpose. According to CEO Ronald Brus, there is "no immediate need" to raise cash.

Crucell will pay 0.447 of its own shares for each Berna share. The takeover bid represents a premium of 27.3 percent on the closing price of the Swiss company on Wednesday, Crucell said yesterday.

Crucell expects to bring out an official bid mid-December. It will declare the bid unconditional if Berna shareholders tender at least two-thirds of their shares. The tendering period will run until 20 January. Berna's management board supports the bid. The acquisition is expected to be completed in February.

Crucell uses its own cultivated human proteins, the Per.C6-lijn, for the production of vaccines and antibodies against flu, tuberculosis, ebola, West Nile disease, malaria, anthrax and the plague. The vaccine is made with the adeno or cold virus that can arouse strong reactions in the human immune system.

Crucell booked sales of 22.6 million euros last year. The company has never yet made a profit. Big incomes are expected when one of Crucell's discoveries comes on the market as a medicine.