Skip to main content
Premium Trial:

Request an Annual Quote

CuraGen Raises $26M from Biogen and Genentech, Appoints Two Executives

Premium

NEW HAVEN, Conn.--Cura-Gen has exercised its right under existing collaborative agreements with Biogen and Genentech to borrow a total of $26 million. Simultaneously, CuraGen converted these loans into approximately 1.6 million shares of CuraGen stock at $16 a share. These transactions increased Biogen's equity position in CuraGen by $10 million and Genentech's position by $16 million, combining to provide CuraGen with an additional $26 million in cash. This follows a $15 million private placement investment in CuraGen by Pequot Capital Management last month.

In other news, the company has appointed Christopher McLeod as executive vice-president and Peter Lomedico as vice-president of discovery research. Reporting to chairman and CEO Jonathan Rothberg, McLeod will oversee bioinformatics and strategic business development and participate in the execution of overall corporate operations. Lomedico will work closely with the company's business development team, overseeing all external collaborations. Previously, he was vice-president of human genetics at Genome Therapeutics.

Filed under

The Scan

US Booster Eligibility Decision

The US CDC director recommends that people at high risk of developing COVID-19 due to their jobs also be eligible for COVID-19 boosters, in addition to those 65 years old and older or with underlying medical conditions.

Arizona Bill Before Judge

The Arizona Daily Star reports that a judge is weighing whether a new Arizona law restricting abortion due to genetic conditions is a ban or a restriction.

Additional Genes

Wales is rolling out new genetic testing service for cancer patients, according to BBC News.

Science Papers Examine State of Human Genomic Research, Single-Cell Protein Quantification

In Science this week: a number of editorials and policy reports discuss advances in human genomic research, and more.