Genetics Institute, SciGenics Inc. deal

The companies reached a definitive agreement under which GENIZ will purchase the 2.1 million SCGN shares outstanding at $14 per share. GENIZ (Cambridge, Mass.) originally had proposed to pay $12 a share (see BioCentury June 26).

As of June 30, SCGN had $10 million in cash and $2 million in liabilities. ...