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Malaysian Company Buys $8M Stake in Synthetic Genomics

NEW YORK (GenomeWeb News) – Synthetic Genomics has sold one million shares to the Malaysian company Dragasic, a subsidiary of the Genting Group, for $8 million, Genting said today, according to the Malaysian news agency Bernama.
Genting said that the Class A common stock it purchased from Synthetic Genomics Founder, Chariman, and CEO Craig Venter represents a roughly two percent economic interest and three percent voting interest in the La Jolla, Calif.-based company.
Privately held Synthetic Genomics was founded in 2005.
In May, Synthetic Genomics and the Asiatic Centre for Genome Technology, which is also part of the Genting Group, announced that they had completed a first draft assembly and annotation of the oil palm genome.

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