Human Genome Sciences raises stake in venture

Maryland Watch

November 14, 1998

Human Genome Sciences Inc. of Rockville said yesterday that it has increased its ownership stake in Vascular Genetics Inc. to 33.9 percent from 19.9 percent.

Publicly held Human Genome, which launched Vascular Genetics last November in a venture with St. Elizabeth's Medical Center in Boston and two other partners, said the increased stake resulted from a redistribution of original holdings of the founding shareholders and a cashless exercise of warrants it held.

The redistribution was for research and other support services Human Genome provided Vascular Genetics.

The other partners in the Rockville venture firm are Cato Holding, a company in Research Triangle, N.C., that specializes in managing clinical drug trials, and Dr. Jeffrey Isner, a cardiologist at St. Elizabeth's.

Isner is a pioneer in the effort to develop gene treatments that grow blood vessels to alleviate the pain and damage from heart and vascular diseases.

Vascular Genetics is among a dozen biotechnology ventures attempting to develop such gene therapies.

Pub Date: 11/14/98

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