Skip to main content
Premium Trial:

Request an Annual Quote

Pfizer Closes $25M Investment in Monogram

NEW YORK, May 22 (GenomeWeb News) - Pfizer's $25-million investment in Monogram Biosciences closed today, with the conversion price of the convertible note set at $2.70 per share, said Monogram Biosciences.


As GenomeWeb News reported May 8, Pfizer Pharmaceuticals said it would invest $25 million in Monogram through a 3-percent senior secured convertible note, payable in 2010.


The note, dated May 19, is due May 19, 2010, unless converted earlier. The note will be payable quarterly in cash, or at Monogram's option in its common stock, the company said.


The conversion price is at a 20-percent premium to the average closing price of common stock during the five trading days preceding the note's issue. The note will automatically convert if the closing price is greater than $4.06, or 150 percent of the conversion price, for 20 out of 30 consecutive trading days.


The note is secured by all assets related to Monogram's HIV testing business.

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.