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Dicerna CEO fears insider trading crackdown, withdraws own shares from Novo Nordisk offer

Douglas Fambrough, co-founder and current CEO of Dicerna, which recently received a USD 3.3bn acquisition offer by Novo Nordisk, no longer intends to offer his own shares as a part of the deal, fearing an insider trading crackdown.

Photo: POOL New/REUTERS / X80003

Novo Nordisk's cash tender offer to acquire all outstanding Dicerna shares no longer includes CEO Douglas Fambrough's personal shares, according to documents amending the original filing to the US Securities and Exchange Commission (SEC).

Fambrough and Marc Kozin, a member of Dicerna's board of directors, have decided to withdraw their tender of Dicerna shares otherwise included in Novo Nordisk's offer to pay USD 38.25 per share, equating to a price of USD 3.3bn for the US-based biotech firm.

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