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Benitec acquires Avocel in $5.3mm stock deal
09 Jul 2004
Executive Summary
Australian functional genomics company Benitec Ltd. has acquired start-up Avocel (develops RNAi therapeutics for viral diseases) for 7.6mm shares, representing 9% of its own outstanding stock. Based on Benitec's average share price of $0.69 (Aus$1), the deal is valued at $5.3mm (Aus$7.6mm). Avocel will become the company's US subsidiary, Benitec Inc.
Deal Industry
- Pharmaceuticals
-
Biotechnology
- Antisense, Oligonucleotides
- Gene Therapy, Cell Therapy
-
Drug Discovery Tools
- Genomics-Proteomics
Deal Status
- Final
Deal Type
-
Acquisition
- Full Acquisition
- Intra-Biotech Deal
- Payment Includes Stock
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Questions?
Please contact Sales at: (212) 520-2765 or email [email protected]
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Benitec acquires Avocel in $5.3mm stock deal
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