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Compugen Ltd. Announces Initial Public Offering of Ordinary Shares
From Yahoo Business Wire
August 11, 2000
The shares are being offered through underwriters led by FleetBoston
Robertson Stephens Inc., U.S. Bancorp Piper Jaffray Inc. and Invemed
Associates LLC. In addition, Compugen Ltd. has granted the underwriters a
30-day option to purchase up to 750,000 additional Ordinary Shares to cover
any over-allotments. The Ordinary Shares are listed on the Nasdaq National
Market under the symbol "CGEN."
The Company intends to use the net proceeds from the offering for research
and development, sales and marketing, working capital and other general
corporate purposes. The Company may also use a portion of the proceeds for
the acquisition of, or investment in, companies, technologies or assets that
complement Compugen's business, although the Company has no present
understanding, commitments or agreements to enter into any potential
acquisitions or investments.
Compugen (www.cgen.com) is a pioneer in the field of computational genomics
and is developing new approaches to computational proteomics. Compugen
combines the disciplines of mathematics and computer science with molecular
biology to improve its understanding of genomics and proteomics. Compugen
develops products and services that enable life scientists to significantly
enhance and accelerate their research efforts in the discovery of drugs,
therapeutics, diagnostics and agricultural products. Compugen provides its
corporate solutions to pharmaceutical, biotechnology and other life science
organizations such as Warner-Lambert Company, Human Genome Sciences, Inc.
and the U.S. Patent and Trademark Office. In addition, Compugen provides
these products and services to molecular biologists and other life
scientists through its LabOnWeb.com Web site. Compugen is also
commercializing the genes and proteins that it discovers through its Novel
Genomics division.
A registration statement relating to these securities was filed and declared
effective by the Securities and Exchange Commission. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such state or
jurisdiction.
A copy of the final prospectus may be obtained from the office of
FleetBoston Robertson Stephen Inc., 555 California Street, Suite 2600, San
Francisco, CA 94104, 415/781-9700; U.S. Bancorp Piper Jaffray Inc., 800
Nicollet Mall, Minneapolis, MN 55402, 612/303-6000; or Invemed Associates
LLC, 375 Park Avenue, Suite 2205, New York, NY 10152, 212/421-2500.
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