N.Y. Group Buys 8.5% of Santa Monica Company

A New York City partnership has acquired an 8.5% stake in International Genetic Engineering Inc. of Santa Monica and may seek to gain control of more shares either through open market transactions or a tender offer.

According to a filing with the Securities and Exchange Commission, Atalanta Selective Fund No. 6 bought 658,029 International Genetic common shares for about $1.9 million. Atalanta Selective’s general partners, Mark Newman and Atalanta Capital Corp., are seeking representation on the board of International Genetic, a research and development laboratory.