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Lynx Secures $3M Bridge Financing from Silicon Valley Bank

NEW YORK, Jan. 3 (GenomeWeb News) - Lynx Therapeutics has obtained a $3 million bridge loan from Silicon Valley Bank, the company said last week.

 

The financing, which is secured by Lynx's assets, will keep the company going as it prepares to be acquired by Solexa. It will support Lynx's operations until the company completes an equity financing sometime this year, acting CEO Mary Schramke said in a statement.

 

The acquisition by Solexa, which still needs to be approved by Lynx and Solexa shareholders, is expected to close in the first quarter of 2005.

The Scan

LINE-1 Linked to Premature Aging Conditions

Researchers report in Science Translational Medicine that the accumulation of LINE-1 RNA contributes to premature aging conditions and that symptoms can be improved by targeting them.

Team Presents Cattle Genotype-Tissue Expression Atlas

Using RNA sequences representing thousands of cattle samples, researchers looked at relationships between cattle genotype and tissue expression in Nature Genetics.

Researchers Map Recombination in Khoe-San Population

With whole-genome sequences for dozens of individuals from the Nama population, researchers saw in Genome Biology fine-scale recombination patterns that clustered outside of other populations.

Myotonic Dystrophy Repeat Detected in Family Genome Sequencing Analysis

While sequencing individuals from a multi-generation family, researchers identified a myotonic dystrophy type 2-related short tandem repeat in the European Journal of Human Genetics.