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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.

The Scan

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