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ABI, Looking for Place at the New-Sequencing Table, Will Buy Stake in VisiGen

Oct 26, 2005

NEW YORK, Oct. 26 (GenomeWeb News) - Applied Biosystems, eager to nab a seat at the next-generation sequencing table, will make an undisclosed equity investment in VisiGen Biotechnologies and begin collaborating with the firm, the companies said today.

 

The investment and collaboration are subject to certain conditions, including one that specifies VisiGen must receive an additional investment from SeqWright, an existing shareholder.

 

Financial terms of the agreement were not disclosed.

 

In early October, after months of industry speculation, ABI disclosed it has been developing its own next-generation sequencing instruments and said today it will still work towards this goal.

 

"Applied Biosystems plans to complement its internal investments in new and existing sequencing technologies with promising next generation approaches, such as VisiGen's," Catherine Burzik, president of ABI, said in a statement.

 

VisiGen, based in Houston, is developing a real-time sequencing system in which polymerase and nucleotides act together as direct molecular sensors for DNA base identification.

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