Genzyme Transgenics Completes Public Offering

Genzyme Transgenics Corp. (Framingham, MA) has completed its previously announced public offering. The company sold 4,025,000 shares of its common stock at $20 per share, with net proceeds totaling approximately $75.7 million. The company now has approximately 27.8 million shares outstanding. The managing underwriters for the offering were Warburg Dillon Read LLC and Chase H&Q.

Genzyme Transgenics Corp. applies transgenic technology to the development and production of monoclonal antibodies and other recombinant proteins for therapeutic and biomedical uses.

For more information: Sandra N. Lehrman, President and CEO, Genzyme Transgenics Corp., 5 Mountain Rd., Framingham, MA 01701. Tel: 508-620-9700. Fax: 508-370-3797.

Edited by Jim Pomager