Forum Archive Index - April 2000

["Geoff Ewert" <gewert@wai.quik.co.nz>]

Could this be risky? re:Nandoors mob and GE.outcome
----- Original Message -----
From: "Ben Dutton" <bendutton@sharechat.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, April 20, 2000 6:56 AM
Subject: Re: [sharechat] genesis


> Hi Scoot,
>
> That transaction appears to be AXA Funds Management buying a stake - full
> press release below.
>
> Benjamin Dutton
>
>
> AXA Takes Stake In NZ Biotechnology Company
>
> Press Release Genesis Research and Development Corporation  19/04/00
> 16:37:00
> Invests $3.5 million in Genesis Research and Development Corporation
Limited
> AUCKLAND, New Zealand - 19 April 2000 - Leading institutional investor AXA
> Funds Management has invested $3.5 million in New Zealand biotechnology
> company, Genesis Research and Development Corporation Limited, acquiring a
> parcel of 614,035 shares at $5.70.
> Dr James Watson, Founder and CEO of Genesis, says the transaction is
> evidence of the growing interest from institutional investors in
> discovery-based biotechnology organisations with the ability to deliver a
> range of products with exciting commercial potential.
> "We're very pleased to be an investor in Genesis, which we believe has an
> excellent long-term growth outlook in a sector which offers many
diversified
> opportunities," says Andrew Bascand, New Zealand Equity Manager for AXA
> Funds Management. "We believe the near term horizon for Genesis is
excellent
> and we look forward to participating in the company's growth as it moves
> into the next phase of its development."
> Dr Watson says the investment represents a major step forward for the
> company and is a clear vote of confidence in the strength of its research
> and development programme and the value inherent in its pipeline of
> products. "We are delighted to have AXA on board. As we move forward we
plan
> to secure greater value from our scientific programme to consolidate and
> build on the growing interest from the investment community."
> About Genesis
> Genesis is a biotechnology company based in Auckland, New Zealand, with
> genomic programmes in human health, forestry and agriculture. Genesis
builds
> EST databases that provide the genomic platform for discovery of novel
genes
> with commercial value and has considerable experience and expertise in
> high-throughput DNA sequencing, functional genomics and development of
> therapeutics. Partnerships with biopharmaceutical, agricultural and
forestry
> companies have been important for funding research to effectively develop
> potential products. In addition to the extensive forestry gene technology,
> Genesis has a psoriasis therapeutic, PVACTM, in FDA-approved Phase II
> clinical trials in partnership with the US-based Corixa Corporation, and
> clinical trials for an asthma therapeutic in Wellington, New Zealand are
> being planned.
> ENDS
>
>
> ----- Original Message -----
> From: scoot
> To: sharechat@sharechat.co.nz
> Sent: Wednesday, April 19, 2000 8:33 PM
> Subject: [sharechat] genesis
>
>
> For those who follow GRD on the secondary board.
> One transaction today 614,035  @ $3,499,999.50
> source http://www.directbroking.co.nz/
> scoot
>
>
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