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Luminex Extends Credit Facility with JP Morgan Chase Through Early 2009

NEW YORK (GenomeWeb News) – Luminex has extended a credit agreement with JP Morgan Chase Bank from last year through February 26, 2009, and has increased the tangible net worth Luminex must maintain to $35 million, according to a filing with the US Securities and Exchange Commission.
 
The agreement extends a credit facility entered into in March 2007, under which the company may borrow up to $15 million.
 
As GenomeWeb Daily News reported on May 8, in its first quarter of 2008 the Austin, Texas-based company saw a 36 percent increase in consumable revenues year over year, but it posted an increased net loss on higher selling, general, and administrative costs and R&D spending.
 
During the first quarter, the company received clearance from the US Food and Drug Administration for its xTAG respiratory virus panel, which was launched in the US in early January.
 

The Scan

Pig Organ Transplants Considered

The Wall Street Journal reports that the US Food and Drug Administration may soon allow clinical trials that involve transplanting pig organs into humans.

'Poo-Bank' Proposal

Harvard Medical School researchers suggest people should bank stool samples when they are young to transplant when they later develop age-related diseases.

Spurred to Develop Again

New Scientist reports that researchers may have uncovered why about 60 percent of in vitro fertilization embryos stop developing.

Science Papers Examine Breast Milk Cell Populations, Cerebral Cortex Cellular Diversity, Micronesia Population History

In Science this week: unique cell populations found within breast milk, 100 transcriptionally distinct cell populations uncovered in the cerebral cortex, and more.