By Sheri Kasprzak
Atlanta, Oct. 15 - Zymogenetics Inc. sold $50 million in stock as part of a series of agreements between Zymogenetics and Serono SA and Serono BV, the company said Friday.
Serono, a Geneva, Switzerland-based biotechnology company purchased 3,176,620 shares at $15.74.
In other parts of the agreement, originally announced in September, the company and Serono will evaluate protein drug therapies over five years. Serono will pay $20 million for licensing options or enter into a co-development arrangement. Other licensing agreements were also made.
Zymogenetics is a Seattle-based biotechnology company that identifies and develops protein-based drug treatments.
| Issuer: | Zymogenetics Inc.
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| Issue: | Stock
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| Amount: | $50 million
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| Shares: | 3,176,620
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| Price: | $15.74
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| Warrants: | No
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| Investors: | Serono SA and Serono BV
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| Settlement date: | Oct. 12
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| Announcement date: | Oct. 15
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| Stock price: | $18.25 at close Oct. 12
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