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Business & Finance
Novo Nordisk A/S completes investment in biopharma company
September 27th, 2004
Transition Therapeutics Inc. (Transition) (TSX: TTH) announced the closing of a previously announced issuance of 5,000,000 common shares to Novo Nordisk A/S (Novo Nordisk) at a price of $1.20 per share for cash proceeds of $6 million. The private placement is part of a licensing agreement between Transition and Novo Nordisk. The shares issued to Novo Nordisk are subject to a 4-month hold period. Proceeds from the financing will be used by Transition for ongoing research and development and for general corporate purposes. Transition is a product-focused biopharmaceutical company, developing novel approaches and therapeutics for...
Source: Diabetes Week (2004-09-27)
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