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Biotech / Medical : Paradigm Genetics -- PDGM -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (10)	10/17/2001 3:43:14 PM
From: tuck	Respond to of 101

>>Paradigm Genetics, Inc. (Nasdaq: PDGM - news) today announced that it has entered into an arrangement with JPMorgan H&Q pursuant to which JPMorgan H&Q has agreed to place directly 5.1 million shares for aggregate gross proceeds of $28.0 million (at a price of $5.50 per share) to selected institutional investors. The company expects this transaction will close on or before Monday, October 22, 2001. The shares are being offered through a prospectus supplement pursuant to the company's effective shelf registration statement. Paradigm Genetics expects to use any proceeds from this financing to expand its metabolomics platform into the areas of human health and nutrition, to increase its business development activities and to meet ongoing working capital requirements. The company may also use a portion of the proceeds to acquire or invest in complementary businesses or technologies.<< snip Cheers, Tuck