Wednesday, Oct 13, 1982
South San Francisco, Calif. -- October 13, 1982 --Genentech, Inc. has announced the establishment of Genentech Clinical Partners, Ltd., a limited partnership, which will sponsor a research and development program to conduct human clinical testing for human growth hormone and gamma interferon.
The limited partnership will contract with Genentech for the performance of the testing program, intended to lead to approval by the Food & Drug Administration for manufacturing and marketing of these products in the United States.
Funding for Genentech Clinical Partners, Ltd. will be arranged through a $55 million private placement of limited partnership interests to qualified investors.
On August 25 Genentech announced that it was considering the possibility of such a partnership.
Genentech, Inc. South San Francisco, California, is a leading company in the commercial development of products from recombinant DNA technology.
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