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Article: Medarex Subsidiary Celldex, Icagen Planning To Go Public.
- 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
Medarex Inc. is looking to divest a quarter of its interest in a wholly owned subsidiary through a public sale of shares in Celldex Therapeutics Inc., while Icagen Inc. also registered for an initial public offering.
As a result, Bloomsbury, N.J.-based Celldex registered for an estimated $50 million initial public offering. Celldex filed for listing on the Nasdaq exchange under the ticker symbol "CDEX," though it has yet to specify the number of shares planned for sale or their price.
Princeton, N.J.-based Medarex said it would continue to hold about 75 percent of Celldex's outstanding common stock, equal to 9 million shares, ...
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