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Genaissance IPO Raises $90 Million
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Business New Haven
9/4/2000
By: BNH
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Genaissance Pharmaceuticals raised $89.7 million in its initial public offering last month on the NASDAQ exchange. The company sold 6.9 million shares in the offering by Deutsche Banc Alex, Brown, Bear, Stearns & Co., Salomon Smith Barney and UBS Warburg LLC. Proceeds included the underwriters' decision to exercise a right to an additional 900,000 shares at $13 per share, according to company officials. Genaissance develops technology for applying population genomics and informatics to the development, marketing and prescribing of drugs.
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