Biotechnology Value Fund, L.P. Message Board

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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: scaram(o)uche who wrote (1455)	2/23/2000 9:29:00 AM
From: scaram(o)uche	Read Replies (1) of 4974

Wednesday February 23, 6:30 am Eastern Time Company Press Release SOURCE: Incyte Pharmaceuticals, Inc. Incyte Announces $422 Million Private Placement PALO ALTO, Calif., Feb. 23 /PRNewswire/ -- Incyte Pharmaceuticals, Inc. (Nasdaq: INCY - news) announced today that it has entered into a definitive purchase agreement for the sale of two million shares of newly issued common stock to selected institutional investors for $422 million. The purchase price is $211.00 per share. Incyte stated that it expects to use the net proceeds of the offering for working capital and general corporate purposes. Proceeds may also be used to make strategic investments, acquire or license technology or products, or acquire businesses that may complement its business. (snip)

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