BIOGROWTH CLOSES FINANCING ROUNDBioGrowth Inc. of Richmond, Calif., which is developingpharmaceuticals based on its proprietary binding proteintechnology, said it closed on a $3.4 million round of financing.
The funds are from its prior investor group: Dougery Wilder &Howard, MBW Management Inc., Vista Ventures, OrienVentures, Security Pacific and UNC Ventures. BioGrowth alsoplans to raise another financing round from a new investmentgroup.
SHAREHOLDERS OK MABS-QUIDEL MERGER
Stockholders of privately held Quidel Corp. and MonoclonalAntibodies (NASDAQ:MABS) Inc. last week approved apreviously announced merger of the two companies.
The new company, called Quidel Corp. (NASDAQ:QDEL), willhave 14 million shares of common stock outstanding.Consolidation of facilities at Quidel's San Diego location will becompleted by the end of March. MABS' Sunnyvale, Calif.,facility will be closed.
Scott L. Glenn, who has been Quidel's president and chiefexecutive officer, retains those titles. Thomas A. Glaze, who wasMABS' chairman and CEO, becomes chairman of the combinedcompanies.
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