NEW YORK, April 28 (GenomeWeb News) - AGT Biosciences of Melbourne, Australia, and ChemGenex Therapeutics of Menlo Park, Calif., yesterday announced a merger agreement.
AGT Biosciences, which lists Merck-Sante as a major shareholder, will issue 28 million shares of common stock to acquire all of the issued shares of privately held ChemGenex. Further financial details were not disclosed.
The combined entity will do business as ChemGenex Pharmaceuticals with Dennis Brown, CEO of ChemGenex, serving as president of the combined firm. Brown co-founded Matrix Pharmaceutical, which was acquired by Chiron in 2002.
ChemGenex will maintain its Center for Statistical Genomics in San Antonio, Texas, the company said.