NEW YORK (GenomeWeb News) — DeCode Genetics today said it will pocket around $43 million in a convertible note placement, which it will use to pay for drug development programs and general corporate use.
 
Decode said it has commitments from investors to buy $65 million worth of senior convertible notes due in 2011. The debt will be convertible into Decode common stock at an initial conversion rate of 71.4286 shares per $1,000 principal amount of notes, equivalent to an initial conversion price of $14 per share.

To read the full story....

Register for Free.

...and receive Daily News bulletins.

Already have an account?
Login Now.

The New York Times and ProPublica look into the close relationship between a startup and Memorial Sloan Kettering Cancer Center.

Yahoo News reports millions of dollars are being transferred from NIH, CDC, and other programs to pay for the housing of detained undocumented immigrant children.

In Science this week: in vitro generation of human reproductive cells, and more.

Researchers gave a handful of octopuses MDMA to find that they too act more social on the drug, Gizmodo reports.