IGEN places 1 million shares:
This article was originally published in Clinica
Executive Summary
Gathersburg, Maryland-based IGEN has placed slightly over 1 million shares with two investment arms from the Acqua Wellington group. The transaction has raised $30 million. It will enable IGEN to continue advancing its business plan and to help fund the cost of legal proceedings against Roche. IGEN is locked in patent litigation with the Swiss worldwide diagnostics market leader over distribution rights to its ORIGEN technology. Last month, IGEN secured victory in Delaware (see Clinica No 986, p 17), but the larger Maryland case is still pending.