Skip to main content

German Genomics Company GPC Sees Revenues Double in 2000

NEW YORK, March 16 - German Genomics company GPC Biotech said Friday its 2000 revenues more than doubled to 10.9 million euros ($9.8 million), compared with 4.3 million euros in 1999, as the company forged several new research alliances with companies such as Aventis, Boehringer Ingelheim, Altana, and Karo Bio.

In addition to performing contract genomics and proteomics research, the company is also developing an in-house pipeline for drug discovery.

Losses significantly widened in 2000, reaching 35.3 million euros, compared with 3.3 million euros, following the acquisition of Mitotix, a mechanism-based drug discovery company.

Costs incurred from the purchase of Mitotix, located in Cambridge, Mass., and Princeton, NJ, totaled 21.3 million euros, including amortization of intangibles. GPC's in-house R&D expenses also increased, from 5.3 million euros in 1999 to 21.6 million euros.

GPC raised 118.6 million euros in an IPO in May of 2000. At the end of 2000, the company had 108.7 million euros in cash and available-for-sale securities.

"The year 2000 was undoubtedly the most successful year in GPC Biotech's corporate history," GPC Biotech CEO Bernd Seizinger said in a statement.

The Scan

And For Adolescents

The US Food and Drug Administration has authorized the Pfizer-BioNTech SARS-CoV-2 vaccine for children between the ages of 12 and 15 years old.

Also of Concern to WHO

The Wall Street Journal reports that the World Health Organization has classified the SARS-CoV-2 variant B.1.617 as a "variant of concern."

Test for Them All

The New York Times reports on the development of combined tests for SARS-CoV-2 and other viruses like influenza.

PNAS Papers on Oral Microbiome Evolution, Snake Toxins, Transcription Factor Binding

In PNAS this week: evolution of oral microbiomes among hominids, comparative genomic analysis of snake toxins, and more.