Northwestern Joins Open Biosystems Open Access Program
Open Biosystems said this week that Northwestern University has joined the company's Open Access RNAi Program.
As reported by RNAi News, the program is designed to make Open Biosystems' genome-wide shRNA libraries more affordable for the company's academic customer base (see RNAi News, 2/2/2006).
By joining the program, Open Biosystems said Northwestern's community of 270 participating research labs will gain access to the company's shRNA libraries. Financial terms of the arrangement were not disclosed.
CytRx Inks Deals to Sell $13.4M in Stock, Warrants
CytRx said last week that it has entered into definitive agreements with a group of institutional investors to sell roughly $13.4 million in common stock and warrants.
Under the terms of the financing, CytRx will sell 10.65 million shares of common stock at $1.26 per share and issue warrants to purchase approximately 5.33 million shares of common stock at an exercise price of $1.54 per share. CytRx said it will net about $12.4 million through the placement.
The signing of the agreements comes at a time when CytRx is struggling under a cash crunch and is seeking funds to spin out its RNAi therapeutics operations (see RNAi News, 2/2/2006 and 2/16/2006).