DNX Corp., BioClin International deal

The companies signed a definitive agreement to combine DNXX with BioClin, a privately held contract research organization. DNXX, which closed at $5.875 Friday, will issue 2.6 million shares in the merger. It has 8.6 million shares outstanding prior to the deal.

BioClin had revenues of $14.3 million in 1995. The combined company, which will have 450 employees, would have generated revenues of $40 million last year, DNXX said. The resulting company will remain publicly traded; the name hasn't been determined. ...