GAITHERSBURG, MD – Intercell AG, a Vienna, Austria-based vaccine company, plans to buy Maryland’s Iomai for up to $189 million in cash and stock.

Intercell has agreed to pay $6.60 a share for Iomai, a 126 percent premium over the closing price of its stock Monday. The stock soared on the news of the sale and opened at $6.21 Tuesday, up 112.7 percent.

Iomai (Nasdaq:IOMI) stock sold for $6.34 midday, up 117.12 percent.

Intercell will get rights to Iomai’s needle-free diarrhea vaccine for travelers, expected to start Phase III trials in the first half of next year.

The company says sales of the vaccine could reeach more than $1 billion a year.

Intercell says Iomai’s vaccine complements its Japanese encephalitis vaccine.

Both companies have approved the deal.

Iomai employs 112 people and leases about 53,500 square feet in Gaithersburg.

“Intercell is fully committed to becoming the leading pure play vaccine company globally,” said Intercell CEO Gerd Zettlmeissl in a statement. “We look forward to welcoming Iomai’s employees to Intercell.”

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