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GenVec, Inc.
Newly combined company to commercialize cancer, heart disease drugs
May 14th, 2003
GenVec, Inc., (GNVC) and Diacrin, Inc., (DCRN) jointly announced that they have signed a definitive merger agreement under which GenVec will acquire Diacrin in a strategic transaction that creates a combined company with a strong product pipeline and significant financial resources to develop and ultimately commercialize innovative therapeutics intended to treat serious and life threatening diseases, including cancer and heart disease. Under the terms of the agreement, each share of Diacrin common stock will be exchanged for 1.5292 shares of GenVec common stock in a tax-free reorganization. Based upon GenVec's closing share price of $1.46 on April 14, 2003, the...
Source: Biotech Week (2003-05-14)
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