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Opko Health, Frost Group, SuperArray Bioscience, Carnegie Institution

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Opko to Sell $20M in Stock to Frost Group
 
Opko Health said this week that it has sold $20 million in stock to the Frost Group, a private investment firm run by Opko Chairman and CEO Phillip Frost.
 
According to Opko, it will issue 10,869,565 shares of its common stock at $1.84 per share to the Frost Group, which represents a roughly 40 percent discount to the five-day average trading price of the stock on the American Stock Exchange.
 
Following completion of the deal, members of the Frost Group will hold about 62 percent of Opko’s outstanding shares.
 
The proceeds from the investment will be used to fund research and development efforts, including the ongoing phase III development of the RNAi-based wet age-related macular degeneration drug bevasiranib, and for general working capital.
 

 
SuperArray Licenses RNAi IP from Carnegie Institution
 
SuperArray Bioscience said last week that it has licensed RNAi-related intellectual property from the Carnegie Institution, which will allow the company to develop, manufacture, and distribute research tools based on the gene-silencing technology.
 
The worldwide license is non-exclusive, SuperArray noted. Additional details about the deal were not disclosed.

The Scan

Fertility Fraud Found

Consumer genetic testing has uncovered cases of fertility fraud that are leading to lawsuits, according to USA Today.

Ties Between Vigorous Exercise, ALS in Genetically At-Risk People

Regular strenuous exercise could contribute to motor neuron disease development among those already at genetic risk, Sky News reports.

Test Warning

The Guardian writes that the US regulators have warned against using a rapid COVID-19 test that is a key part of mass testing in the UK.

Science Papers Examine Feedback Mechanism Affecting Xist, Continuous Health Monitoring for Precision Medicine

In Science this week: analysis of cis confinement of the X-inactive specific transcript, and more.