GNI AND SHANGHAI GENOMICS MERGE

GNI and Shanghai Genomics has announced that the two companies have formed a merger. GNI concurrently raised a private equity round of financing of over $13 Million led by Nomura, Healthcare Partners and several other U.S. and Japanese private equity firms. The merger delivers several benefits, most notably from Shanghai Genomics' Western-quality discovery research, preclinical development, and contract research services to facilitate cost-efficient drug development, faster revenue generation and, ultimately, profitability for the united company.

Genetic Engineering News (http://www.genengnews.com/news/bnitem.aspx?name=553947XSL_NEWSML_TO_NEWSML_WEB.xml)