GeneSoft Inc. announced the completion of its merger with Genome Therapeutics Corp. (Nasdaq: GENE), effective February 6, 2004.
In total, Private Equity Holding will receive shares with a value of approx. USD 8.4 million at the closing share price of February 13, 2004 of USD 6.49 per share, in addition to a promissory note from Genome Therapeutics for USD 0.5 million which bears an annual interest rate of 5% and is convertible, at the option of the holder, into shares of Genome Therapeutics common stock at a price of USD 6.6418 per share. The total investment position, a combination of equity, loan and warrants, was held by Private Equity Holding at a book value of USD 1.56 million as of January 31, 2004.
Genome Therapeutics' product portfolio now includes the FDA-approved antibiotic FACTIVE®, set to be launched in the summer of 2004, as well as a novel antibiotic candidate for the prevention and treatment of serious hospital-acquired infections, Ramoplanin, which is currently in phase III clinical trials.
- - -
"Portfolio News"
brings investment highlights from the portfolio of Private Equity Holding AG to the attention of investors. Contractual disclosure requirements limit the depth of information to publicly available data and thus prohibit disclosure of additional financials.
Private Equity Holding AG (SWX: PEHN), managed by Swiss Life Private Equity Partners, offers investors the opportunity to invest, within a simple legal and tax optimized structure, in a broadly diversified and professionally managed private equity portfolio. For further information: www.peh.ch or Tamara Krebs, Investor Relations and Communications (phone +41 41 726 79 80).
This news release can be downloaded as a PDF-File by using the following link >>>
