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SciGen CEO, directors resign as Yifan takeover offer closes

SciGen Ltd. said CEO Marek Dziki stepped down and his resignation will become effective Aug. 31.

Dziki also resigned from the SciGen board with effect from Aug. 7, along with Adam Tomasz Polonek, Kenneth Gross, Ju Bo Liu and Vaidyanathan Viswanath.

The resignations follow Hong Kong-based Yifan International Pharmaceutical Co. Ltd.'s unconditional offer to acquire the biotechnology company, which closed Aug. 7.

Kang Yun and Zou Jun were appointed directors, effective Aug. 7.

Yifan International, a unit of China-based Yifan Pharmaceutical Co. Ltd., priced SciGen's stock at 5.07 U.S. cents per share. The takeover offer was made through SAC Capital Private Ltd.

SciGen, a unit of Poland-based Bioton SA, develops genetically engineered biopharmaceutical products. The company's shares will delisted from the Australian Securities Exchange on Aug. 28.