Human Genome of Rockville to go public

October 06, 1993|By States News Service

Human Genome Sciences Inc., a Rockville-based company associated with The Institute for Genomic Research (TIGR), plans to go public with the sale of 2.25 million common shares worth about $31 million.

Gaithersburg-based TIGR, a not-for-profit company involved in gene sequencing and analysis, was formed by Dr. J. Craig Venter, a scientist formerly at the National Institutes of Health.

In exchange for providing TIGR with about $85 million in funding over 10 years, Human Genome acquired rights to inventions and patents arising from TIGR's research.

Human Genome believes it and TIGR have identified about 17,500 human genes out of 75,000 to 100,000 genes that are believed to exist, according to a Securities and Exchange Commission filing.

The stock is expected to trade on the Nasdaq exchange.

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