Genzyme's dilution picture; NTII blows whistle on itself

GENZ moved to acquire the hyaluronic acid-based product line and other assets of Genzyme Development Partners L.P., offering $93 million in shares of GENZ common stock.

GENZ formed the partnership in November 1989, raising $36.8 million to fund development of products to reduce surgical adhesions. The four HA products in development include Seprafilm bioresorbable membrane, Sepracoat coating solution, Sepragel bioresorbable gel and HAL-S synovial fluid replacement. GENZ has reported pivotal data and filed for marketing approval of Seprafilm and Sepracoat (see BioCentury Oct. 25, Nov. 6, Dec. 11, and Jan. 29). ...