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Article: Bay City Capital Increases NeoRx Ownership.
- Article from:
- Business Wire
- Article date:
- March 1, 1999
CopyrightCOPYRIGHT 1999 Business Wire. 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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SEATTLE--(BUSINESS WIRE)--March 1, 1999--NeoRx Corporation (Nasdaq:NERX) today announced that The Bay City Capital Fund I, L.P. has purchased 1.36 million shares in the open market between Dec. 28 and Feb. 18 at prices ranging from $1.32 to $1.50 a share, and now holds 2.37 million shares or 11.26% of the company. Its affiliate, Bay City Capital LLC, is a merchant banking and management advisory partnership formed by The Craves Group and the Pritzker Family business interests. Fred Craves, Ph. D., the Chairman of NeoRx's Board of Directors, is a Managing Director of Bay City Capital LLC.
"We believe in the technologies and product opportunities that NeoRx is ...