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Genaissance Hopes to Pocket $6M In Private Stock Placement

NEW YORK, Nov. 19 (GenomeWeb News) -  Genaissance Pharmaceuticals expects to pocket $6 million in a private placement of 3.55 million shares of newly issued common stock, and warrants for another 3.55 million shares to undisclosed institutional investors and other accredited investors, the firm said today.

 

The NEw Haven, Conn.-based phramacogenomics company said that it plans to use the proceeds for general corporate purposes, including the repayment of debt.

 

The private placement, which the company said it expects to close this afternoon, comes after announcing earlier this week a layoff of 10 percent of its workforce in an attempt to reach break even from operations.

The Scan

Guidelines for Ancient DNA Work

More than two dozen researchers have developed new ethical guidelines for conducting ancient DNA research, which they present in Nature.

And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

Nature Papers on Esophageal Cancer, Origin of Modern Horses, Exome Sequencing of UK Biobank Participants

In Nature this week: genetic and environmental influences of esophageal cancer, domestic horse origin traced to Western Eurasian steppes, and more.