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454 Sells Four Sequencers in Q3; Expect Positive Cash Flow for 2005

NEW YORK, Oct. 27 (GenomeWeb News) - 454 Life Sciences sold and installed four Genome Sequencer 20 Systems in the third quarter, 454's parent company CuraGen said today, bringing the total of confirmed installations to nine.

 

In addition, the mid-October transfer of commercial sales of the system to Roche Applied Science "triggered milestone payments that will likely enable 454 to be cash-flow positive for 2005," said Christopher McLeod, president and chief executive officer for 454 Life Sciences, in a statement.

 

Under the terms of the agreement with Roche, 454 will earn royalties on Roche's product sales and a margin on instruments and reagents supplied to Roche.

 

454 Life Sciences will continue to offer sequencing services for whole-genome and ultra-deep sequencing for clients without their own instruments, said McLeod.

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