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This article was originally published in Clinica
At $9.50 a share, US company Gliatech lowered the price of shares in its initial public offering from the $11 assumed in the prospectus (see Clinica No 676, p 12). Selling 2.3 million shares, Gliatech raised around $20 million to be used for the manufacturing and marketing of the company's Adcon anti-adhesion products in Europe and clinical trials in the US and Europe
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