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Clinical Data Completes Acquisition Of Genaissance Pharmaceuticals, Inc. (GNSC)



10/19/2005 5:13:19 PM

NEWTON, Mass.--(BUSINESS WIRE)--Oct. 7, 2005--Clinical Data, Inc. (NASDAQ:CLDA) today announced that it has closed its previously announced acquisition of Genaissance Pharmaceuticals, Inc. following the approval of the merger by the stockholders of each of the two companies. The terms of the Agreement and Plan of Merger include the exchange of each outstanding share of Genaissance Pharmaceuticals common stock for 0.065 shares of Clinical Data common stock, and the exchange of Genaissance preferred shares for newly designated Clinical Data preferred shares. Effective immediately, Genaissance will cease trading on Nasdaq under the ticker symbol GNSC. In conjunction with the acquisition, Kevin Rakin and Joseph "Skip" Klein III will join CLDA's board of directors effective immediately, bringing the total number of directors to seven. Both were members of the Genaissance board.

Read at BioSpace.com


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