Genetic Systems was founded

In 1980, Genetic Systems was founded in 1980 as a monoclonal antibody-based diagnostic company by Robert Nowinski of the Fred Hutchinson Cancer Research Center with $40 million raised by David and Isaac Blech. On Jun. 4, 1981, Genetic Systems announced its IPO.

The company was Acquired by Bristol-Myers Squibb for $310 million in 1986, and was divested to Sanofi on April 19, 1990.

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Source: LA Times
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