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Biotech / Medical : Cambridge Antibody Technology Group -- Ignore unavailable to you. Want to Upgrade?

To: Pseudo Biologist who wrote (45)	2/1/2000 1:48:00 PM
From: Pseudo Biologist	Read Replies (1) \| Respond to of 625

More good news for CAT: Tuesday February 1, 1:21 pm Eastern Time Company Press Release SOURCE: Human Genome Sciences, Inc. Human Genome Sciences Announces Increase in Offering Size And Completion of Offering ROCKVILLE, Md., Feb. 1 /PRNewswire/ -- Human Genome Sciences, Inc. (Nasdaq: HGSI - news) announced today that its recent private placement of 5% Convertible Subordinated Notes Due 2007 has been increased by $75 million to a total of $225 million principal amount of Notes. The offering was completed today. The Notes are convertible into Human Genome Sciences Common Stock at a price equal to $112.50 per share, reflecting HGS' recent two-for-one stock split. HGS expects that the proceeds from the offering will be used for: the continued expansion and initiation of pre-clinical programs now underway, including the expansion of antibody programs previously announced with Abgenix, Inc. and Cambridge Antibody Technology Group (plc); expansion of clinical trials programs now underway for two novel proteins, Keratinocyte Growth Factor-2 (KGF-2) and Myeloid Progenitor Inhibitory Factor-1 (MPIF-1); initiation of pre-clinical and clinical trial programs to evaluate additional protein-, gene- and antibody-based drugs; expansion of HGS' Functional Genomics program; enhancement of ongoing research and development efforts; the pursuit of patent coverage for genes and proteins including HGS' currently filed patent applications that describe more than 7,400 newly discovered human genes; to operate and expand the new process development and manufacturing facility; and general corporate purposes. The funds also may be used to facilitate acquisitions of products or companies that further HGS' strategic goal of becoming an integrated, global pharmaceutical company. (snip)