Formerly known as Myco Pharamaceuticals working on drug discovery based on genetic engineering of fungi and bacteria, in 1996 combined its technology with PerSeptive Biosystems' --- purification/analysis technology. Effectively merging their operations. the new entiity was renamed ChemGenics. In late 1996, Chemgenics filed for an initial public offering but withdrew the offering upon acquisition of the firm by Millennium Pharmaceuticals. Early in 1997, In an $89 million stock transaction, Millennium Pharmaceuticals - itself an SBIR involved firm in its eary days --acquired Chemgenics Pharmaceuticals enabling Millennium to broaden its research into antibacterial drugs.
