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NEW YORK (GenomeWeb) – Skyline Medical announced on Tuesday that it has agreed to take up to a 25 percent equity stake in partner Helomics.

Under the terms of the deal, Skyline will acquire preferred stock convertible into 20 percent of Helomics' outstanding common shares in exchange for 1.1 million newly issued Skyline shares. Skyline also has the right to convert a previously issued $500,000 loan to privately held Helomics into a 5 percent stake.

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