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ThromboGenics to absorb subsidiary Thromb-X


Published :
Wed, 23 May 2007 08:36
By : Agencies
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BRUSSELS (Thomson Financial) - Belgian biotechnology company ThromboGenics NV said it plans to absorb its subsidiary Thromb-X.

The company said the transaction will issue no new shares or cash payment.

The deal is expected to be approved at the next Extraordinary General Assembly in July.

ThromboGenics said the decision will enable it to streamline its corporate structure by consolidating its Belgian activities.

Thromb-X is based in Leuven, Belgium. It focuses on the research and development activities of the group.

After the transaction is completed, the group will have two remaining subsidiaries: ThromboGenics Ltd, based in Ireland, and ThromboGenics Inc in the US.

nina.chestney@thomson.com

nc/bsd

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