Oct. 17, 2002 — ChondroGene Ltd., a Toronto developer of microarrays and other types of diagnostic tools specializing in osteoarthritis, announced that Pfizer Inc. has acquired 1,162,462 shares of the company for (U.S.) $243,526, according to a news release.
The share placement is part of a two-year collaboration with Pfizer that ChondroGene valued at up to $4.8 million. The release said the deal will enable ChondroGene to accelerate its biomarker research program. ChondroGene will grant Pfizer access to certain databases of cartilage-specific information.
ChondroGene trades on the Toronto Venture Exchange under the symbol YDG.