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Biotech / Medical : Biotechnology Value Fund, L.P.
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To: scaram(o)uche who started this subject10/23/2000 6:33:18 AM
From: nigel bates of 4974
 
Oct. 23 /PRNewswire/ -- In a move that establishes a new leader in the field of protein therapeutics, Novo Nordisk A/S (NYSE: NVO - news) today announced that it has taken definitive steps to establish its fully owned subsidiary, ZymoGenetics Inc, as an independent corporate entity. The move comes in conjunction with the signing of a $150 million private placement into ZymoGenetics from a strong international investor consortium led by E. M. Warburg, Pincus & Co, LLC. ZymoGenetics will use the proceeds from the financing to further accelerate its targeted, bioinformatics-driven programs for the discovery and development of novel therapeutic proteins.
ZymoGenetics, which was acquired by Novo Nordisk in 1988, has served as Novo Nordisk's primary US discovery arm and has in that time contributed to several of Novo Nordisk's current key products. ZymoGenetics was one of the earliest companies to recognize and utilize the combined power of genomics and bioinformatics for mining human gene sequence databases for valuable drug candidates. Over the past five years ZymoGenetics has filed patent applications on over 500 novel gene sequences and has generated a broad pipeline of therapeutic protein candidates that the company intends to take into development, both through internal programs and pharmaceutical partnerships....
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