Aprogenex Inc. purchased the assets of MediGene Inc.'s researchprogram in fetal cell isolation for about $1.34 million worth of stockand cash, the Houston company said Thursday.In addition to $185,000 cash and 100,000 newly-issued shares ofAprogenex (ASE:APG) stock _ which closed Thursday at $11.38 pershare _ MediGene of Yonkers, N.Y., was issued four-year warrants toacquire 100,000 shares of common stock at $16 per share.Aprogenex's chief financial officer, Don Payne, told BioWorld thatAprogenex will ascribe a $100,000 charge to the warrants and willexpense the approximately $1.5 million cost of the research programacquisition in the second quarter of this year.He said MediGene approached Aprogenex about a collaboration butthe Houston company instead made an acquisition offer.MediGene, a genetics testing laboratory, has tried to develop a methodto identify fetal cells circulating in mother's blood. While nocommercial product has resulted, Aprogenex said some of the blood-processing methods could be useful in future enhancements of itsGenSite prenatal genetic testing assay. The purchase involved rights toMediGene's patent applications, licenses and research, but no tangibleassets. _ Jim Shrine
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