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Article: Geron Brings In $72M For Telomerase Work, Trials.
- 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
Geron Corp. is bringing in $72 million for ongoing development of its cancer therapies targeting telomerase, and for early programs involving the use of human embryonic stem cells to target several diseases.
The Menlo Park, Calif.-based company is offering 6 million shares of its common stock, priced at $9 per share, for gross proceeds of $54 million. The remaining $18 million comes from an equity investment by Whitehouse Station, N.J.-based Merck & Co. Inc., relating to a telomerase vaccine collaboration signed in July. Merck will exercise a warrant to purchase 2 million shares, also at $9 apiece.
Geron expects net proceeds to ...