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DNA Sciences, Bristol-Myers Enter Drug-Discovery Deal

NEW YORK, Oct. 9 – Beleaguered functional genomic firm DNA Sciences intends to partner with Bristol-Myers Squibb to investigate genetic variants within an undisclosed drug-discovery gene target, the companies said on Tuesday.

Terms of the deal call for DNA Sciences to use its high-throughput sequencing and genotyping facility to study Bristol-Myers’ gene in normal and affected disease populations.

Both companies plan to use any findings from the collaboration in future research and development activities, according to a statement.

Financial terms were not disclosed.

As GenomeWeb reported , Fremont, Calif.-based DNA Sciences last month sacked its chairman and CEO, Hugh Reinhoff, and announced plans to lay off roughly half of its workforce.

The change at the top reflects the company’s intent to change from a traditional genomic platform to one that develops and commercializes diagnostic and drug-discovery products.

In the statement released on Tuesday, Steven Lehrer, DNA Sciences’ new president and COO, said: “Our effort with Bristol-Myers Squibb is a continuation of DNA Sciences' goal to apply genetics to pharmaceutical discovery and development.”

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