Mergers and Acquisitions

Operational changes will reduce expenses, concentrate resources

Published in Gene Therapy Weekly, December 26th, 2002

GenStar Therapeutics Corporation (GNT) announced that it is restructuring its operations to reduce expenses and concentrate its resources on the later-stage cardiovascular products that will be the focus of the company following completion of the planned merger with Vascular Genetics, Inc., (VGI).

GenStar and Vascular Genetics also announced that they intend to enter into a services agreement for the VEGF-2 product for refractory angina that will be the lead product of the merged company. Separately, GenStar announced financial results for the third quarter of 2002.

The merger between Vascular Genetics and GenStar is expected to be completed during...

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Source: Gene Therapy Weekly (2002-12-26)

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