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Genome Therapeutics to Use Genomica s Software for Pharmacogenomics

NEW YORK, Sept 27 – As genomics software company Genomica of Boulder Colo., gears up for an expected $85 million IPO this week, it said Wednesday that it had licensed its Discovery Manager software to Genome Therapeutics (Nasdaq: GENE).  

Financial terms of the agreement were not disclosed.

Discovery Manager is an integrated suite of software tools and a database template for genomic research. The database can be filled with data from the user's own research, as well as publicly available data.

The tools include algorithms designed for easy use by genomic researchers without the assistance of bioinformaticists. Discovery Manager allows researchers to access, store, manipulate, analyze, annotate, and integrate genomic data from a variety of sources.

Genome Therapeutics president and COO Richard Gill said in a statement that the software would be used in the genomics-based drug discovery company’s proprietary pharmacogenomics effort.

Genomica, whose other customers include AstraZeneca; GlaxoWellcome; Parke-Davis, now a unit of Pfizer (NYSE: PFE); and the US National Cancer Institute; plans to offer 5 million shares later this week at $17 a piece. (Proposed Nasdaq symbol: GNOM).

The company lost $13 million over the first six months of 2000 and reported a revenue of $766,000 for the period.

Genome Therapeutics is based in Waltham, Mass., and boasts exclusive alliances with Schering-Plough; AstraZeneca; Wyeth-Ayerst, the pharmaceutical division of American Home Products (NYSE: AHP); and bioMerieux.

The company’s stock was up 5/16, or 1.7 percent, at 19 in midday trading.

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