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Incyte Plans Private Placement of $150M in Convertible Notes

NEW YORK, Feb. 11 (GenomeWeb News) - Incyte today said it intends to offer a private placement of $150 million in convertible subordinated notes due in 2011.

 

The interest-bearing notes will be converted into shares of Incyte common stock at a rate and a price to be determined. The company said it expects to also grant initial purchasers of the notes an option to purchase up to an additional $50 million aggregate principal amount of the notes.

 

The company will use the net proceeds of the offering for general purposes, including the repayment of outstanding debt.

 

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.