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Aurora Biosciences Gets $75 M Private Placement

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AN DIEGO--Aurora Biosciences has agreed to sell 1.8 million shares of newly issued common stock to selected institutional and other accredited investors for $75 million. The purchase price is $42 per share. The company intends to use net proceeds from this private placement for development and acquisition of new technologies, particularly in genomics and drug discovery, as well as commercial development and for working capital and other general corporate purposes.

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