GeneNews Raises Additional $574K in Debt Placement | GenomeWeb

NEW YORK (GenomeWeb News) – Toronto-based GeneNews has raised C$718,783 (US$574,000) through the second tranche of a private placement of debentures.

The firm said that it has accepted subscriptions for five-year, 15 percent redeemable convertible secured debentures. The 15 percent annual interest will be paid upon the earlier of maturity, conversion, or redemption of the debentures.

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Harold Varmus, a former NIH director, says that proposed reductions to the agency's budget are worrisome.

The Genome 10K project is to sequence about 10,000 vertebrate genomes, including ones of endangered species, Digital Trends reports.

The new Coalition to Save NIH Funding aims to educate lawmakers and the public on the significance of biomedical research.

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