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Genomics Collaborative Close to Announcing Genotyping Partnership

Oct 10, 2002

NEW YORK, Oct. 10 - Look out for Genomics Collaborative to strike a genotyping partnership with a prominent SNP company.

 

Michael Pellini, CEO of GCI, said the deal, which he said will be with "a larger genotyping company," is slated to close over the next three months. In it, the SNP company will use parts of GCI's Global repository of tissue, sera, and DNA samples.

 

Speaking to investors at the UBS Warburg global life-sciences conference here today, Pellini explained that this partner, which he declined to name, sought this collaboration because "most of these companies do not have enough samples" to perform the kind of research they'd like.

 

Before bolting out of the room to catch a flight, Pellini said GCI has around $7 million in the bank and will burn approximately $3 million of that next year. He added that he expects the firm to become cash-flow positive in 12 to 15 months.

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