Group Buys 8.47% Stake in Genetic Engineering Firm


A group led by a New York City investor has acquired an 8.47% stake in International Genetic Engineering Inc. and wants to participate in the company’s business decisions, according to a Securities and Exchange Commission filing.

L. Mark Newman, who controls three investment firms, said in the filing that the group plans to “formally communicate” with the board of International Genetic Engineering Inc. about taking part in the formation, determination or direction of the basic business decisions.

The group may also buy more shares or sell its stake.