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Devgen Nets $40M in Private Stock Placement

NEW YORK (GenomeWeb News) — Devgen, a Belgian biotech research company, said today it has raised €31 million ($40.7 million) in a private stock placement with new institutional investors.
 
Devgen said it placed 1.5 million shares priced at €20.75 apiece, and will apply for the shares to be admitted on Euronext, which is a cross-border European exchange. The company said the transaction should close on Feb. 20.  
 
The company also said existing shareholders sold 2.26 million shares to institutional investors at the same price.
 
The company said the combined share offering was more than three times the number available because of interest from Belgian and international investors.
 
Devgen, which has facilities in Ghent and in Singapore, develops therapeutics and preclinical drug candidates for metabolic diseases and agrochemical products.

The Scan

Shape of Them All

According to BBC News, researchers have developed a protein structure database that includes much of the human proteome.

For Flu and More

The Wall Street Journal reports that several vaccine developers are working on mRNA-based vaccines for influenza.

To Boost Women

China's Ministry of Science and Technology aims to boost the number of female researchers through a new policy, reports the South China Morning Post.

Science Papers Describe Approach to Predict Chemotherapeutic Response, Role of Transcriptional Noise

In Science this week: neural network to predict chemotherapeutic response in cancer patients, and more.