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Article: Sangamo Raising $30M In Offering After Stock Bump.
- Article from:
- BIOWORLD Today
- Article date:
- November 3, 2009
CopyrightCOPYRIGHT 2009 A Thomson Healthcare Company. 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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Staff Writer
Less than a week after shares of Sangamo BioSciences Inc. jumped 20 percent on a zinc finger DNA-binding protein (ZFP) collaboration with Sigma-Aldrich Corp., the Richmond, Calif.-based firm is padding its coffers with a $30 million stock sale.
Sangamo agreed to sell about 3.3 million shares to a group of institutional investors priced at $9.15 per share, a slight discount to Monday's closing price of $9.76. The company's stock got a shot in the arm last week on news of its alliance with St. Louis-based Sigma-Aldrich to develop laboratory research reagents using Sangamo's ZFP technology.
The companies intend the reagents for broad ...