Groupe des Assurances Nationales of Paris, an insuranceunderwriting firm, has taken a 12.78 percent stake in XytronyxInc. with holdings of 442,990 shares of common stock andwarrants to purchase an additional 18,570 shares of commonstock. Xytronyx raised $3.48 million in April in a privateplacement among a group of international institutionalinvestors, and Groupe des Assurances Nationales acquiredsome of its shares through that placement.
The San Diego company (NASDAQ:XYYX) is marketing itsPerioGuard periodontal tissue monitor diagnostic kit outsidethe United States through an agreement with Colgate-Palmolive.
(c) 1997 American Health Consultants. All rights reserved.