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In Brief This Week: Sygnis, Exact Sciences, and More

NEW YORK (GenomeWeb) – Sygnis said this week that it has completed its acquisition of Innova Biosciences, a privately held UK-based bioconjugates company. Sygnis paid €10.8 million ($12.2 million), consisting of €8 million in cash and 2 million shares of Sygnis as a contribution in kind. Depending on agreed performance indicators, the purchase price will also include up to 1.5 million shares issued as convertible bonds. Innova develops, manufactures and commercializes labelling reagents, including its Lightning Link labeling technology.

In a document filed this week with the US Securities and Exchange Commission, Exact Sciences said that the underwriters of its previously announced public offering exercised their overallotment option by purchasing an additional 450,000 shares of the company’s common stock at $35 per share. As a result, the net proceeds from the offering totaled $23.4 million.

OncoDNA and Charles University Hospital in Prague announced this week that they have launched a research project on cancers of unknown primary sites. The collaborators will use OncoDNA's tumor profiling product to analyze tumors and to identify the potential origin. The study also aims to evaluate the different treatment strategies.

In Brief This Week is a selection of news items that may be of interest to our readers but had not previously appeared on the GenomeWeb site.