Hyseq, Variagenics deal

HYSQ will merge with molecular diagnostics company VGNX in a stock deal. VGNX shareholders will receive 1.6451 HYSQ shares for each VGNX share, valuing VGNX at $39.3 million based on HYSQ's Friday close at $10.99. VGNX will own 64% of the combined company, but HYSQ Chairman George Rathmann and President and CEO Ted Love will retain their respective titles. The merged entity will focus on HYSQ's alfimeprase fibrolase-derived thrombolytic to treat peripheral arterial occlusions and other cardiovascular conditions and VGNX's cancer diagnostics program. ...