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ChondroGene Completes GeneNews Acquisition

NEW YORK, Dec. 1 (GenomeWeb News) - ChondroGene said today that it has completed its acquisition of GeneNews.


Under the deal, ChondroGene acquires all outstanding shares of GeneNews in exchange for 4 million shares of its own stock at a price of $0.50 per share.


According to Toronto-based ChondroGene, GeneNews' principal asset is undisclosed intellectual property related to pharmacogenomics and personalized medicine. ChondroGene, which was co-founded by GeneNews founder Choong-Chin Liew, previously held licensing rights to the technology in the fields of osteoarthritis, rheumatoid arthritis, and traumatic joint injury.



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