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Bionomics Shareholders OK Iliad Acquisition, Green-Light $4.6M Stock Placement

Jun 27, 2005

NEW YORK, June 27 (GenomeWeb News) - Australian biotech Bionomics shareholders today approved the company's acquisition of Iliad Chemicals, the company said today. The shareholders also gave the company the green light to raise AU$6 million ($4.6 million).

 

Bionomics said last month that it planned to acquire the privately held drug-discovery company Iliad Chemicals for AU$9 million. At the time, the company said it had completed an AU$6 million placement, subject to today's shareholder approval, to fund development programs in cancer and central nervous system disorders.

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