Chemdex changes name, expands focus
The online seller of chemicals and lab equipment says it is changing its name to Ventro, forming a new company to expand into other industry areas beyond life sciences.
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Chemdex, based here, said it will expand into health care and other areas.
"Chemdex is a great name for what we were incorporated and started to do," said Chemdex chief executive Dave Perry, who will become president and CEO of Ventro. "It originally focused only on the life sciences market. As we expanded into other (areas), Chemdex became less and less useful."
No financial transactions were associated with the creation of Ventro. The company will begin trading under the new stock symbol "VNTR" on March 1.
An advertising campaign to support the new name will begin today. The company plans to advertise in trade publications and newspapers such as The Wall Street Journal. The company didn't disclose how much it would spend on its advertising campaign.
Chemdex executives will remain in their jobs with the new company.
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