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Celera Genomics Pockets $32M Following Sale of Discovery Partners Stake

May 12, 2004

NEW YORK, May 12 (GenomeWeb News) - Celera Genomics has pocketed $32 million after selling its one-third stake in Discovery Partners International, the company said today.

 

The Applera unit sold 7,222,000 shares of Discovery Partners common stock in a public offering at a price of $5 per share. Celera Genomics took possession of these shares in November 2001after it acquired Axys Pharmaceuticals, which owned them since 2000, according to Celera spokesman Rob Bennett.

 

Bennett said the companies agreed to the move because DPI wanted to have additional shares on the market for institutional investors, and Celera could find a better use for its money.

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