Financings In Brief

Genzyme Corp: Genzyme Genetics pays $32 mil. to Genzyme Molecular Oncology for intellectual property and licenses related to cancer diagnostics, parent company announces Jan. 2. Genetics will sub-license the markers to strategic partners while using the rights to develop its own specialized tests for various cancers. Molecular Oncology will use the funds, along with a potential $1 mil. in milestone payments, to support therapeutics research focused on cancer vaccines and angiogenesis inhibitors. Additionally, Genetics will have diagnostic rights to future cancer markers found through Molecular Oncology's antigen discovery program...