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Article: Targeted Genetics Announces Conclusion of Joint Venture Relationship With Elan.
- Article from:
- PR Newswire
- Article date:
- April 6, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Targeted Genetics Corporation today announced an agreement with Elan Corporation, plc that formally concludes the collaboration between the companies through the joint venture, Emerald Gene Systems, Ltd. (Emerald). Operating activities within the joint venture were completed in August 2002. This agreement represents the formal termination of the joint venture and various related matters. In connection with execution of the Termination Agreement, Elan has converted all the shares of Targeted Genetics Series B preferred stock into 4.33 million shares of Targeted Genetics common stock.
"The establishment of Emerald provided Targeted Genetics with the ability to ...