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ARTICLE | Company News

Isis out-licenses ISIS 301012

April 8, 2006 1:50 AM UTC

Late on Friday, ISIS said it out-licensed ISIS 301012 and two preclinical diabetes compounds to Symphony GenIsis. Symphony GenIsis was formed by Symphony Capital, which, along with undisclosed investors, provided an initial investment of $75 million. ISIS granted the investors a five-year warrant to purchase 4.3 million ISIS shares at $8.93, which is a 3% premium to ISIS's close of $8.63 on Friday. In exchange, ISIS received an exclusive option to acquire Symphony GenIsis. ...