Tuesday, February 22, 2000
Stephen Evans-Freke, Craig Venter, G. Steven Burrill and David
Kingsbury, all household names in biotech, believe that the planned merger of
ValiGene SA and Kimeragen Inc. will create - in their view - the only company
capable of rapidly and inexpensively validating gene targets for drug discovery.
ValiGene (Paris, France) and Kimeragen (Newtown, Penn.) were
putting the finishing touches to the merger over the weekend. The combined group
will create a transatlantic functional genomics company, ValiGen N.V. (Rotterdam,
the Netherlands), which will identify and validate targets for both pharmaceutical
and agrochemical products. The new company also is expected to announce a private
financing of $15-$20 million to fund its initial efforts.