NeoGene Receives French Financing

NeoTherapeutics Inc. said its genomics research subsidiary, NeoGene Technologies Inc., has received $2 million in financing from French bank Societe Generale.

The bank received preferred stock that is convertible into a 4% stake in NeoTherapeutics, an Irvine biopharmaceutical company.

Proceeds from the sale will be used to fund the expansion and ongoing research of NeoGene.