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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: scaram(o)uche who wrote ()1/31/1998 4:04:00 PM
From: scaram(o)ucheRead Replies (3) of 4974
 
Wednesday December 31, 3:57 pm Eastern Time
Company Press Release
SOURCE: Repligen Corporation
Repligen Announces $2 Million Private Placement
Biotechnology Value Fund Invests in Company
NEEDHAM, Mass., Dec. 31 /PRNewswire/ -- Repligen Corporation (Nasdaq: RGEN -
news) today announced a $2.0 million investment in the Company by
Biotechnology Value Fund, L.P. and affiliates (BVF) of San Francisco and
Four Partners of New York. The investment involves the sale of 2 million
shares of common stock and warrants to purchase an additional 750,000 shares
of common stock at $1.50 per share.
''This investment will enable the Company to accelerate the development of
our growth factor antagonists and expand our screening to additional
targets,'' said Walter C. Herlihy, Ph.D., President and CEO of Repligen.
''In addition, we plan to increase our efforts to synthesize combinatorial
chemical libraries suitable for the discovery of inhibitors of clinically
important protein- protein interactions.''
Mark Lampert, President of BVF, Inc. stated, ''Repligen has developed a
unique set of drug discovery technologies which have now been validated by
the identification of active lead compounds. We believe that the Company's
technology combined with strong corporate partners and low burn rate make
this an attractive investment.'' (snip)
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