GeneMedicine Inc.'s initial public offering became effective with1.933 million shares sold at $7.50 per share, and the Houstoncompany's stock started trading Wednesday under the NASDAQsymbol GMED.GeneMedicine grossed about $14.5 million and netted about $13.5million from the offering. It now has about 9.33 million sharesoutstanding. Underwriter D. Blech & Co. Inc. has an option topurchase an additional 250,000 shares to cover overallotments.The company originally filed for its IPO in April, proposing 3.6 millionshares between $7 and $9 per share. An amended offering was filed inJune for the sale of 2.125 shares between $7 and $9 per share.The company's gene medicines in development are comprised of novelDNA expression vectors and vector delivery systems. The expressionvectors contain a gene and DNA sequences that control the location,amount and duration of therapeutic protein production.GeneMedicine hopes to file an investigational new drug application bythe end of 1995 for factor IX as a long-term prophylactic therapy forhemophilia B. In April, GeneMedicine entered into an agreement withSyntex (U.S.A.) Inc., of Palo Alto, Calif., to develop medicines forcertain inflammatory and immunological disorders. _ Jim Shrine
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