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CytRx Closes Acquisition of Global Genomics

NEW YORK, July 18 - CytRx said today it has completed its acquisition of Global Genomics Capital, and has named Steven Kriegsman CEO of the new company.


Terms of the deal, originally announced in February, call for CytRx to acquire all outstanding shares of Global Genomics, a private holding company. In return, CytRx will issue almost 10 million shares of common stock. The company also said it will change its name to Global Genomics.


Global Genomics, based in Los Angeles, owns 40 percent of Blizzard Genomics and five percent in Psynomics.

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