BERLIN--Atugen Biotechnology, a new company that has been formed as a spinoff of the target discovery and validation business of Ribozyme Pharmaceuticals, announced the completion of a $20 million initial financing round and the formal opening of its facilities on the Biomedical Research Campus of the Max Delbruck Center here. Officials said the technology transfer, which includes DNA microarray technology and associated bioinformatics, is the first to have occurred from a US biotechnology company to form a new German company as part of the German Biotechnology Initiative.
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