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Promega Expands Stake in Benitec With $158K Share Purchase

NEW YORK (GenomeWeb News) — Promega has expanded its equity stake in Aussie RNAi company Benitec by buying 1.8 million ordinary shares at AU$.105 apiece ($.09), or $158,000, Benitec said today.
 
The deal, which is a 20-percent discount from the average trading price of Benitec shares over the past 60 days, follows the conversion of a year-old promissory note and increases Promega’s stake in the Australian company to 6.15 percent.
 
Benitec develops and licenses ddRNAi technology and is currently developing technology for an HIV therapeutic.

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