6 Jul 2010

UBNZ takes stake in biotech company

3:55 pm on 6 July 2010

UBNZ Funds Management has taken a 20% stake in Genesis Research & Development.

The biotechnology company, which suspended its New Zealand operations last month, raised $446,000 by selling 7.4 million shares at 6c each.

UBNZ Funds Management is owned by May Wang, the businesswoman who managed to stave off bankruptcy related to debts at Dynasty Group.