NetMusic Entertainment Corp. of Edmonds has signed a third-party agreement to acquire rights to the music catalogs of all the major record labels. When combined with its existing rights to independent music, NetMusic said the new agreement gives the company the world’s largest digital music collection. NetMusic also announced that it has issued three new shares for every share previously held by stockholders. The stock split will be reflected in NetMusic’s stock price when trading opens today.
Bothell biotech licenses peptides
Bothell-based Helix BioMedix Inc. will license some of its peptide technology to Seattle’s American Global Health Group, which intends to include the healing proteins in some of its skin care products. American Global intends to begin selling some of its peptide-enhanced products in Asia later this year. Helix will receive royalties based on product sales.
CombiMatrix finds an Australian ally
Mukilteo’s CombiMatrix Corp. said Tuesday it will share some of its intellectual property and collaborate with Benitec Ltd. of Australia to develop treatments for viral diseases. Additionally, Benitec will use CombiMatrix’s technology to target key genes found in HIV. In return, CombiMatrix will draw on Benitec’s technology to further its development of treatments for exposure to biological, chemical, radioactive and other weapons, the company said.
Federal Reserve OKs Frontier deal
The Federal Reserve Bank has approved Everett-based Frontier Financial Corp.’s purchase of up to 20 percent of the common stock of Burlington’s Skagit State Bank. Frontier made an initial purchase of nearly 5 percent of the bank in December. A second purchase of 3.2 percent of the shares was made Tuesday. A third purchase of slightly more than 3 percent will be made in July, setting the total ownership at 11.3 percent.
T-bill rates soar in Monday auction
The Treasury Department auctioned three-month bills at a discount rate of 2.615 percent, up from 2.54 percent last week. Six-month bills were auctioned at a discount rate of 2.85 percent, up from 2.76 percent. The rates were the highest since Sept. 10, 2001.The new rates understate the actual return of 2.669 percent for three-month bills, with a $10,000 bill selling for $9,933.90, and 2.932 percent for a six-month bill selling for $9,855.92. The Federal Reserve also said Tuesday that the average yield for one-year Treasury bills, a popular index for adjustable rate mortgages, rose to 3.05 percent last week, up from 2.96 percent the previous week.
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