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Article: AGT Biosciences Picking Up ChemGenex In A$14M Merger.
- 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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Washington Editor
ChemGenex Therapeutics Inc. and AGT Biosciences Ltd. are merging to form a genomics-driven pharmaceutical firm with leading-edge technology and two cancer drugs in clinical trials, officials from both companies said.
AGT, of Melbourne, Australia, agreed to issue about 28 million ordinary shares to ChemGenex shareholders. The shares are valued at about A$14 million (US$10.4 million), said Harry Pedersen, ChemGenex's chief business officer and executive vice president of corporate development.
AGT's stock (ASX:AGT) closed Tuesday at A56 cents on the Australian Stock Exchange.
ChemGenex, of Menlo Park, Calif., is a ...