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DNA Sciences files $125 Million IPO

Jan 8- DNA Sciences has filed a $125 million initial public offering with the Securities and Exchange Commission, Reuters reported Monday.

The company said it plans to use the money to expand its studies on the role genes play in diseases such as cancer, asthma and diabetes and bolster its genetic database, and to commercialize diagnostic tests it is developing for common diseases, as well as to subscribe to genetic databases and fund corporate expenses, according to Reuters.

The company, which is to be listed on the Nasdaq, will go under the symbol DNAS. The company has not yet named the price.

DNA Sciences hired Lehman Brothers, CIBC World Markets and Dain Rauscher to manage its IPO, Reuters reported.

 

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