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Curagen Initial Offering Raises $45.5 Million

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NEW HAVEN, Conn.--In its initial public offering March 18, genomics firm Curagen offered 3 million shares of common stock at $11.50 per share. Two collaborative partners, Biogen and Genentech, and the University of Florida Research Foundation, will purchase an aggregate of 956,522 shares, the company announced. Curagen applies genomics to accelerate the discovery and development of therapeutic and agricultural products. Its fully integrated genomics technologies, processes, and information systems are designed to generate comprehensive information about gene expression, biological pathways, and the potential drugs affecting them. Underwrit ing the IPO was a group including Morgan Stanley Dean Witter, Lehman Brothers, and Bear, Stearns.

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