NEW YORK (GenomeWeb News) – Cellular Dynamics said after the close of the market on Monday that its revenues for the fourth quarter increased 45 percent year over year.

The Madison, Wis.-based developer of fully functional human cells for research applications reported total revenues of $4.2 million for the three months ended Dec. 31, 2013, up from $2.9 million in the year-ago fourth quarter. Product sales rose 9 percent to $2.5 million from $2.3 million, while revenues from collaborations, partnerships, and other sources more than doubled to $1.7 million from $657,000.

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