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Bankár Holding, the holding company of Gábor Kovács, one of Hungary’s richest investors, has acquired a 12% stake in US-based N-Gene, a company established by Hungarians to develop an oral antidiabetic, for $5 million, business weekly HVG reported Thursday.
N-Gene has so far drawn in $25 million in American venture capital, including some from George Soros. N-Gene CEO Gábor Kálmán said the company could turn its molecule into an oral antidiabetic in 4-5 years. (MTI-Eco)