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Article: TARGETED GENETICS ACQUIRING GENOVO, ALIGNING WITH BIOGEN.(Brief Article)
- Article from:
- BIOWORLD Today
- Article date:
- August 10, 2000
- Author:
CopyrightCOPYRIGHT 2000 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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Gene therapy specialists Targeted Genetics Corp. and Genovo Inc. have decided to join forces and consolidate their technological expertise in a stock-swap acquisition valued at $67 million.
In addition to acquiring Genovo, Targeted Genetics announced a multi-product development and commercialization deal with Biogen Inc., a major shareholder of Genovo, worth up to $125 million.
Seattle-based Targeted Genetics will acquire privately held Genovo, of Sharon Hill, Pa., by issuing 6.63 million shares to Genovo's shareholders. The deal is valued at $67 million based on Targeted Genetics' closing stock price on Tuesday of $10.125 a share. Targeted Genetics' ...