SciClone Pharmaceuticals Inc. on Wednesday announced thatNichimen Corp., a Japanese trading company, has made astrategic investment of $1 million in SciClone. Nichimenpurchased 73,800 shares of restricted common stock from theSan Mateo, Calif., company for $13.55 per share. SciClone stock(NASDAQ:SCLN) closed Wednesday at $10.63 a share, up 38cents.

Nichimen has had an ongoing relationship with SciClone underwhich the Japanese company has helped SciClone evaluate andlocate strategic partners and compounds in Pacific Rimcountries, said Mark Culhane, SciClone's director of finance.

(c) 1997 American Health Consultants. All rights reserved.

No Comments