SAN FRANCISCO, Dec. 17 - Caliper Technologies said today it would accept a decreased payment schedule from Amphora Discovery for previously negotiated services and products.
Payments for data points generated by Amphora using Caliper equipment will drop to a minimum of $1.8 million during the second year of the agreement and $2.2 million paid over time "contingent on Amphora revenue generation" from the $4 million minimum payment originally negotiated due during the second year of the contract, according to Caliper. The company has also agreed to the sale of one Caliper 250 instrument by
"While it is undesirable to defer revenue, we believe that a fiscally healthy and viable Amphora best serves Caliper's interests," Caliper CEO Michael Knapp said in a statement. "Amphora has been, and continues to be, a strong advocate and user of our microfluidic LabChip systems."
Amphora was spun out from Caliper in 2001 as an independently funded and managed chemical genomics database company. At the time, Caliper owned 28 percent of the company. With a recent financing deal for Amphora, Caliper's equity decreased to less than 15 percent, according to the company. Caliper said it expected further dilution as the company did not plan to make future equity investments in Amphora.
At the time of its Amphora spin off, Dan Kisner, then CEO of Caliper, said that Amphora would be a major customer for Caliper's HTS systems. "When fully operational, Amphora has the potential to become the world's largest and most productive high throughput screening center," Kisner said in 2001.