NEW YORK (GenomeWeb News) – Epigenomics today reported that its first-quarter revenues increased 36 percent due primarily to milestone payments received from Abbott and new collaborations, and its net loss dropped 16 percent year over year.

The German molecular diagnostics firm reported total revenues of €1.24 million (US$1.7 million), up 36 percent from €920,000 for the first quarter of 2008. Its diagnostics business accounted for 70 percent of its total revenue, while its biomarker service revenue accounted for 30 percent.