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Article: Targeted Genetics Forms Partnership with Elan to Develop Advanced Gene Delivery Technologies; Elan to Make a Major Investment in Targeted Genetics.
- Article from:
- PR Newswire
- Article date:
- July 26, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. 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, July 26 /PRNewswire/ -- Targeted Genetics Corporation (Nasdaq: TGEN) today announced that it has signed definitive agreements with Elan Corporation, plc (NYSE: ELN) to form a new subsidiary of Targeted Genetics with the goal of developing new technologies for the enhanced delivery of therapeutic genes. Targeted Genetics will own 80.1% of this new company, which is expected to be named Emerald Gene Systems, subject to completion of appropriate trademark searches. Emerald will be Elan's exclusive effort in the area of gene delivery for a period of at least three years.
Elan has made an initial $5 million investment in Targeted Genetics common stock at a ...