GNI Ltd. And Shanghai Genomics, Inc. Merge; Japanese And Chinese Biotech Companies Combine To Increase R&D Productivity And Market Opportunity 
10/19/2005 5:09:13 PM

TOKYO & SHANGHAI, China--(BUSINESS WIRE)--June 20, 2005--GNI Ltd. and Shanghai Genomics announced today that the two companies have formed a merger. GNI concurrently raised a private equity round of financing of over $13M led by Nomura, Healthcare Partners and several other U.S. and Japanese private equity firms. The merger delivers several benefits, most notably from Shanghai Genomics' Western-quality discovery research, preclinical development, and contract research services to facilitate cost-efficient drug development, faster revenue generation and, ultimately, profitability for the united company.