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Investment Firm Unloads Stake in Genomica

NEW YORK, Aug. 3 – An investment firm responsible in part for providing seed money for Genomica Corporation has sold its nearly 3 percent stake in the company, it said on Friday. 

Harris & Harris Group, based in New York, sold the 731,111 shares it held for a total price of $1.5 million and earned roughly $2.5 million in net proceeds.  The investment firm said it filed a total long-term net capital gain on the sale of slightly more than $1 million.

Genomica, based in Boulder, Colo., develops and markets software products and services, designed to enable pharmaceutical and biotechnology researchers to accelerate the drug discovery and development process. 

Harris & Harris Group, which became a founding investor in Genomica in 1996 after it was spun off from Cold Spring Harbor Laboratory, said it plans to use its net proceeds “in other private equity situations.”

Shares of Genomica slipped 0.05 to 3.15 in early-afternoon Nasdaq trading. The company plans to hold an investor teleconference to report its second-quarter earnings on Aug. 8.

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